How can ExxonMobil support Qatar in its plans to advance the status of the country's oil and gas sector?
ExxonMobil is proud of its extensive partnership with Qatar Petroleum in the development of Qatar's natural gas sector. Through this partnership, ExxonMobil has participated in 12 of the 14 LNG trains, 27 of the world's largest LNG ships, three receiving terminals in Europe and the US, and Qatar's largest condensate refinery. Six of these 14 trains are considered the largest operating liquefaction facilities in the world, each able to produce 7.8 million tons of LNG annually. Current annual LNG production of ExxonMobil and Qatar Petroleum's joint ventures is more than 60 million tons. The new FDI law is expected to make Qatar an ideal hub for trade and re-exports and will continue to enable significant new investment opportunities and solid partnerships. One need look no further than the recent Qatar Petroleum and ExxonMobil investment decision to proceed with the development of the Golden Pass LNG export project in Sabine Pass, Texas to understand the dynamics of ExxonMobil's decades-old partnership with the state of Qatar. The project will have an annual capacity of 15.6 million tons of LNG and provide LNG to countries both with free trade and non-free trade agreements, covering markets in Asia Pacific, Europe, and the Americas. LNG is still one of the fastest-growing forms of energy, with annual sales expected to more than double to approximately 480 million tons in 20 years. We are proud to be progressing on new LNG projects with Qatar to help meet the world's growing demand for natural gas.
What will be the role of technology in Qatar's expansion of LNG production?
At its core, ExxonMobil is a technology company. We have almost 20,000 scientists and engineers, including more than 2,000 with PhDs. ExxonMobil spends around USD1 billion every year researching and developing new technologies. Technology has been critical in meeting the world's energy needs, and we have the potential to make an even greater impact in the decades ahead, while protecting our environment. We are finding innovative ways to operate more effectively and efficiently, and the technologies we are working on are enabling us to maximize value, all along the product value chain. Our broad portfolio, involvement across the LNG value chain, and global marketing footprint provide important flexibility and enable us to maximize value for our LNG ventures. Technology enabled us to increase the size of the LNG trains to achieve a lower unit cost in manufacturing LNG, as well as increase the capacity of the LNG carriers from 140,000-150,000 cubic meters per vessel to 250,000, creating what is now known as the Q-Max.
To what extent is the Qatar ExxonMobil Open shaping Qatar's sports landscape?
ExxonMobil Qatar has been the title sponsor of the Qatar ExxonMobil Open for 25 years, making it one of the most anticipated professional tennis events—attracting a star-studded group of players, crowds of spectators from all over the world, and the attention of regional and international media outlets. As a committed member of the community, ExxonMobil Qatar's role extends beyond its business activities and includes programs and partnerships that carry local significance and meaning. The tournament showcases Qatar's energy and its appeal as an attractive destination for tourists and business people alike.
What is ExxonMobil Qatar's outlook for the year ahead?
We are committed to continuing our successful journey with Qatar Petroleum. The world needs reliable supplies of affordable, clean energy, and we can continue to play an important role with Qatar in meeting this need. Our world-class LNG facilities in Qatar have played an important role in meeting the world's energy needs, and moving forward, the Golden Pass LNG Export project and Qatar's North Field Expansion will help meet growing demand for LNG. Qatar's energy industry has a bright future, but it will require continued innovation and collaboration as well as a commitment to maintaining the highest environmental and ethical standards.