Qatar Energy reports 58% jump in annual profit for 2022 to $42.47 billion

QatarEnergy

A report issued by QatarEnergy revealed a jump in the company's net profits by about 58 percent in 2022, to reach QR 154.6 billion, compared to QR 97.9 billion in 2021.

It is noteworthy that 40 percent of all the new liquified natural gas (LNG) that will come to the market by 2029 is going to be from QatarEnergy, as the company is working on increasing its production capacity of LNG by 64 percent to raise production to 126 million tons annually by 2027, compared to the current 77 million.

The first gas shipments from the North Field Expansion Project are expected to be delivered in 2026.

(QNA)