Doha will hedge against LNG dependence

Significance Earlier in January, it awarded contracts to increase and sustain output at its main oilfield. Doha wants to dilute its overdependence on a single commodity and to extract value before global crude consumption declines. Impacts Qatar Energy (QE) will use renewable electricity and carbon capture to reduce the carbon intensity of its oil production. Qatar will expand investments in upstream oil and gas assets overseas. Expansion in LNG production will unlock funds for further oil-related investment, even as international crude prices decline.