The agreement paves the way for the establishment of a Joint Industry Project (JIP) that targets the development of new LNG carrier designs utilizing the LNT A-BOX® LNG cargo containment system.

Qatar will spend billions of dollars expanding its LNG capacity more than 50% to 126 million tons a year.

State-owned Qatar Petroleum is planning a to increase LNG production by 43% to 110 million mt/year by 2025, up from 77 million mt/year currently.

Qatar currently has an LNG production capacity of some 77 million mt/year, but has plans to boost it to 110 million mt/year by 2025 with the addition of four more trains and to 126 million mt/year by 2027 with the addition of two further trains.

Turkey’s natural gas imports in the January-June period of this year dropped by 3.5% to 22.5 billion cubic meters (bcm). Out of this amount, Turkey imported 12.1 bcm via pipeline and 10.3 bcm as liquefied natural gas (LNG).

Qatar Petroleum maintains its plans to raise its domestic gas liquefaction capacity by 64%

Global gas prices have plunged to record lows in the past weeks due to an oversupplied market and reduced demand due in part to the coronavirus pandemic.

"This agreement extends Qatar's long standing LNG supply relationship with Kuwait well into the 2030's and highlights our commitment to meeting Kuwait's LNG requirements," Saad al-Kaabi, minister of state for energy affairs and the CEO of Qatar Petroleum, said in a statement

The estimated increase in Qatar’s LNG production comes after exploration work in the expanded North Field mega project showed that confirmed gas reserves of the field exceeded 1,760 trillion cubic feet,

Russia exported 248 billion cubic meters (bcm) in 2018, mostly via pipeline to Europe. In the next decade, its liquefied natural gas (LNG) exports will almost triple to 68 bcm as the Yamal LNG project reaches full capacity and Arctic 2 LNG comes online (plus two smaller projects).