CNBC – Qatar Petroleum on Wednesday announced plans to significantly raise natural gas production in the coming years, creating an obstacle to President Donald Trump's goal of "energy dominance."
The move threatens to add to a projected glut of liquefied natural gas, or LNG, as a wave of new projects come online in the coming years, including from the United States.
The Qatari state energy company said it will double the size of a planned project in the North Field, the massive natural gas reserve in the Persian Gulf that has underwritten the country's rapid rise to wealth. That will allow the country to hike its total output of LNG from 77 million tons a year to 100 million tons annually some time between 2022 and 2024, according to the company.
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