Qatar to lift ban on development of world's largest gas field

Doha

QATAR has lifted a self-imposed ban on development of the world's biggest natural gas field, the chief executive of Qatar Petroleum (QP) said on Monday, as the world's top liquefied natural gas (LNG) exporter looks to see off an expected rise in competition.

Qatar declared a moratorium in 2005 on the development of the North Field, which it shares with Iran, to give Doha time to study the impact on the reservoir from a rapid rise in output. The vast offshore gas field, which Doha calls the North Field and Iran calls South Pars, accounts for nearly all of Qatar's gas production and around 60 per cent of its export revenue.