Qatar expects to rapidly ramp up liquefied natural gas (LNG) production following the reopening of the Strait of Hormuz and restore about 80% of its export capacity within two months, Bloomberg reported, citing sources.
"State-owned oil and gas company QatarEnergy has informed customers that it plans to raise LNG output to approximately 50% of total capacity within one month after safe navigation through the strait is restored," the report reads.
Another month later, the figure is expected to reach 80%.
Bloomberg sources said that fully restoring the remaining capacity, equivalent to two production trains, will take years. Those facilities sustained significant damage as a result of Iranian missile strikes in March.
Since April, QatarEnergy has been conducting equipment testing and necessary maintenance work to prepare for a rapid restart. Several production trains have been operating at reduced capacity in order to maintain supplies to neighboring countries and ensure readiness for a production increase.
Qatar is among the world's three largest LNG exporters.
