Qatar plans to resume LNG production within a few weeks after stabilization of the situation in the Strait of Hormuz
Kyiv • UNN
Qatar expects to resume normal LNG production within a few weeks after stabilization of shipping in the Strait of Hormuz. The Prime Minister stated that QatarEnergy is preparing to return to full operation after the agreements between the US and Iran.
Qatar expects to resume normal production of liquefied natural gas (LNG) within the next few weeks after the stabilization of shipping in the Strait of Hormuz. Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani stated this in an interview with the Financial Times, reports UNN.
Details
According to him, the state-owned company QatarEnergy is already preparing to return to full operation after agreements between the United States and Iran on de-escalation in the region have been reached.
Within a few weeks, production will return to normal levels, except for damaged facilities. Our teams are already mobilized, and QatarEnergy is preparing to resume normal operations as soon as the situation in the strait stabilizes
At the same time, the head of government noted that the company will only lift the force majeure regime after ensuring the safety of navigation and the elimination of all risks.
The Prime Minister emphasized that establishing a direct line of communication between the United States and Iran is extremely important to ensure the safe passage of vessels through the Strait of Hormuz.
The purpose of the hotline is that any threat to a vessel could be verified through Iran and that ships could safely transit the strait
According to Al Thani, restoring full vessel traffic through the Strait of Hormuz may take some time, as the market needs to regain confidence after several months of tension and restrictions.
He also warned that the consequences of the conflict for the global economy will still be felt in the coming months, particularly in the markets for fertilizers, petrochemical products, and helium.
We have stopped further escalation, but the consequences of the damage caused will still manifest. We will see them in September and October