Qatar announces reasons for leaving OPEC

Baku. 3 December. REPORT.AZ/ Qatar’s decision to leave OPEC is not linked to a political and economic boycott of Qatar, Saad al-Kaabi, the country’s energy minister, told a news conference.

Qatar is one of the cartel’s smallest oil producers, but is the world’s largest exporter of liquefied natural gas. Al-Kaabi said the gulf state had reviewed ways to enhance its role internationally, including focusing on its gas industry. Qatar wants to ramp up liquefied natural gas production from 77m to 110m tonnes a year.

He added that Qatar would still attend the OPEC meeting in Vienna that starts on Thursday and will set oil policy for next year.