ConocoPhillips Says Qatar LNG Expansion Likely to See Months, Not Years, of Delay

Company expects setbacks to North Field projects measured in months after damage to Ras Laffan facilities, while QatarEnergy warns of possible longer supply disruptions to some buyers

By Maya Rios COP

ConocoPhillips expects delays measured in months rather than years for LNG capacity expansions at its North Field joint ventures with QatarEnergy, the company's Europe Gas head said. Damage to onshore Ras Laffan facilities from strikes on March 19 has raised concerns about supply to key importers, which QatarEnergy has said could face disruptions lasting years.

ConocoPhillips Says Qatar LNG Expansion Likely to See Months, Not Years, of Delay

COP

Key Points

ConocoPhillips expects delays to North Field LNG expansion projects to be measured in months, not years.
Damage to Ras Laffan from strikes on March 19 has raised the prospect of extended supply impacts.
Potential supply interruptions could affect major LNG buyers such as China, South Korea, Belgium and Italy, with implications for global gas markets and energy sector participants.

ConocoPhillips expects setbacks to planned liquefied natural gas (LNG) capacity increases at its joint ventures with QatarEnergy to be temporary and most likely limited to several months, rather than stretching into multiple years, according to comments from the company’s head of Europe Gas.

The U.S. energy firm is a partner with QatarEnergy on the principal LNG program centered on the North Field, which comprises offshore installations and onshore processing and export facilities at Ras Laffan. The Ras Laffan onshore complex suffered damage from strikes on March 19, an event that occurred weeks after the onset of the Iran war.

QatarEnergy has warned that gas flows destined for major buyers - including China, South Korea, Belgium and Italy - could experience disruptions that last for years. That assessment reflects the potential scale of damage and the complexity of restoring full output from impacted infrastructure.

Still, Jonathan Burgess, president for Europe Gas at ConocoPhillips, described a more optimistic outlook for the company’s specific joint ventures. Speaking on a panel at the Flame conference on gas and LNG in Amsterdam, Burgess said the North Field East and North Field South projects remain active and that any slippage in schedules is more likely to be measured in months rather than years.

ConocoPhillips holds stakes in two joint ventures focused on the North Field East and North Field South developments. Those projects are part of Qatar’s broader expansion plan to lift LNG output from 77 million metric tons per annum (MTPA) to 126 MTPA.

The contrast in tone between ConocoPhillips and QatarEnergy highlights differing assessments of how quickly production capacity can be restored or expanded following the March 19 strikes. For buyers and market participants, the timing of restarts and the pace of ramp-up will influence availability and price dynamics in global gas markets.

Context limitations: The company’s comments reflect current expectations and were made publicly at the Flame conference; they do not provide a detailed repair timeline or revised project schedules beyond the characterization of delays as likely months rather than years.

Risks

Ongoing damage at Ras Laffan could prolong restoration efforts and constrain LNG output - affecting energy supply and markets.
QatarEnergy has warned that customers including China, South Korea, Belgium and Italy could face supply disruptions lasting years - a risk to downstream gas users and utility operations.
Uncertainty over the pace of repairs and ramp-up for North Field projects creates near-term volatility for LNG markets and for companies with exposure to project timelines and cash flows.

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ConocoPhillips Says Qatar LNG Expansion Likely to See Months, Not Years, of Delay

Key Points

Risks

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