ConocoPhillips is expecting Qatar gas JVs to be delayed by months, not years.

ConocoPhillips’?Europe Gas chief said that any delays in increasing the liquefied gas production capacity of its joint ventures with Qatar will likely be months and not years.

The U.S. Energy Group is a Partner in QatarEnergy’s main LNG Project, which includes offshore installations in the North Field, and onshore installations at Ras Laffan. These facilities were damaged by strikes in March, several weeks after Iran?war started. QatarEnergy warned that the gas supply to China and South Korea could be affected for many years.

Jonathan Burgess is the president of ConocoPhillips Europe Gas.

Burgess said that the North Field East and?North Field South joint ventures were currently underway. While we may see some delays, these are more likely to be measured in months than years, Burgess said during a panel discussion at the Flame conference in Amsterdam on gas and LNG.

ConocoPhillips and QatarEnergy are partners in two joint ventures focusing on the North Field East project, and North Field South project. These projects will increase Qatar's LNG production from 77 million tons per annum to 126MTPA.

Marco Saalfrank is the head of merchant trading for the?Swiss group AXPO. He said that Qatar's plans to?expand LNG?capacity? could be delayed from six months to a year depending on the outcome of the Iran -war.

Saalfrank predicted that some demand destruction would help to balance the LNG market in the coming year.

The increase in U.S. supplies will also help to?middle the impact of the Strait of Hormuz blockage and the damage caused by production plants.

ConocoPhillips "heavily invests" in the Port Arthur LNG Project in the U.S. Burgess confirmed, and confirmed that initial production is expected to begin in 2027. (Reporting and editing by Mark Potter, Alexander Smith, and Francesca Landini)

(source: Reuters)