Minister: Qatar to withdraw from OPEC in January 2019

DOHA, Dec 3 (PRIME) -- Qatar plans to withdraw from OPEC from January 1, 2019 and will inform the organization about its decision later on Monday, Energy Minister Saad Sherida al-Kaabi said at a news conference Monday.

“Qatar has decided to withdraw from OPEC starring from January 1, 2019, and will brief the organization on this decision on Monday,” al-Kaabi said.

The country plans to focus on producing gas and increasing production of liquefied natural gas (LNG) to 110 million tonnes per year from 77 million tonnes, he added.

Qatar will continue fulfilling its international commitments after its withdrawal from OPEC like any other country that is not a member of this organization, al-Kaabi said.

He also said the decision to leave OPEC was not politically motivated or triggered by disagreements with other OPEC members.

“This is a technical decision, motivated by our desire to strengthen the country’s position of a reliable global energy supplier,” he said, adding that Qatar intends to remain the world’s biggest LNG supplier.

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