Medhurst noted the interests and ambitions of Chevron, but don't remember him discussing the other oil & gas corps who might be a tad upset, you would think, at having their multi-decade investments get blocked or even go up in smoke because of some madcap scheme*. Also I still struggle to believe the US establishment is willing to tolerate the upending of diplomatic ties, security guarantees, military cooperation etc with the Arab states, again cultivated over the course of nearly a century, just because the fracking bubble gave the impression they were an oil giant themselves and could do without other global suppliers.

Murray & Medhurst's description of the Trump regime engaging in piracy and upending maritime security seems to fit what has been happening, and the historical precedent of mercantilism might be what we're headed back into, but it seems like such a huge change that there would be pushback from a lot of powerful interests.

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* - looking at his article, I see Medhurst thinks QatarEnergy & Exxon have pivoted to the US and withdrawn from Qatar, which seems v far-fetched:

'A case in point is the curious fate of Qatar. ExxonMobil and QatarEnergy — who are partners in the Ras Laffan refinery that was crippled in March — clearly knew when to pull their chips from the Middle East and move them to the US. On April 22, they celebrated their first LNG shipment from Golden Pass, Texas, where Qatar hold a majority 70% stake. Safe to say, at these wartime prices they’ll be making back everything they lost in the Gulf several times over, and all while operating safely inside the US economic circuit.' - https://richardmedhurst.substack.com/p/how-the-us-pulled-off-an-armed-robbery

Are they really going to be willing to turn their backs on all of this?


*****

https://www.blackridgeresearch.com/blog/latest-list-of-top-upstream-downstream-oil-and-gas-petroleum-companies-qatar#toc-1-qatarenergy

'One of Qatar Energy’s most valuable assets is the North Gas Field, the largest non-associated gas field in the world, with over 900 trillion standard cubic feet of recoverable gas. Offshore oil production is also significant, with key fields like Idd El-Sharqi, Maydan Mahzam, and Bul Hanine producing high-quality crude oil and associated gas. Onshore, the historic Dukhan Field has been a vital production site since the first oil shipment in 1949.

Key Operations and Projects

Gas-to-Liquids (GTL):

Pearl GTL (with Shell): Largest GTL plant globally, converting 1.6 billion cfpd of gas.

Oryx GTL: Produces 34,000 barrels/day, with plans to expand to 100,000 b/d.

Refining & Petrochemicals:

QatarEnergy’s refinery in Mesaieed processes over 100,000 barrels/day.

A new petrochemical complex is being developed in Ras Laffan with Chevron Phillips, featuring the Middle East’s largest ethane cracker (1.9 million tons/year).

Exploration Partnerships:

EPSA and DPSA agreements have been signed with global companies such as ExxonMobil, Shell, Total, CNOOC, Maersk, and Anadarko.

These partnerships have led to major developments in fields like Al Shaheen, Al Khaleej, and Al Karara.


Qatar Energy to Build 18 LNG Vessels in China's CSSC at the Cost of $6 Billion

Infrastructure & Storage:

Halul Island: A key crude oil export hub with over 4 million barrels of storage capacity.

Equipped with a heliport, desalination plants, a harbor, and residential facilities for staff.

Pipeline & Domestic Gas Projects:

Dolphin Energy: Supplies natural gas via pipeline from Qatar’s North Field to the United Arab Emirates (UAE) and Oman.

Al-Khaleej Gas Project (AKG): Supplies 2 bcf/day to local industries.

Barzan Gas Project: Produces 1.4 bcf/day of sales gas for power generation.

Future Developments:

North Field Expansion: Set to raise LNG capacity from 77 to 110 MTPA.

Bul Hanine Redevelopment: Aims to double the current offshore oil output and extend the field’s life.

Some of the largest subsidiaries of QatarEnergy:


1.1.1. QatarEnergy LNG

QatarEnergy LNG is the world’s largest producer of liquefied natural gas (LNG), with an annual production capacity of 77 million metric tonnes. Established in 1984 and rebranded from Qatargas in 2023, the company plays a pivotal role in Qatar’s dominance in the global LNG market. QatarEnergy LNG operates 14 LNG trains, including six mega trains with a capacity of 7.8 MTPA each, and manages key upstream operations in Ras Laffan.