The chairman of Qatar Petroleum, said the country withdrew a moratorium on the exploitation of the largest liquefied natural gas field (LNG) in the world. The wide range is on the high seas and accounts for almost all gas production in Qatar and about 60 percent of its export earnings.
The moratorium was declared in 2005 by Qatar on the development of the North Field, which is divided with Iran, to the country able to perform a comprehensive study on the impact that a rapid increase in production would have on their reserves.
The development should generate a 2 billion production capacity of cubic feet of natural gas per day. When new phase is ready in five to six years, production from the field will be increased by 10%.
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