- $29 billion LNG investment from Qatar
- Latest News from the Senate: The impeachment attempt was decided to be constitutional
- Joe Biden discussed $ 1.9 trillion stimulus package with the top executives of the country’s leading companies
$29 Billion LNG Investment from Qatar
Qatar, the world’s largest LNG (liquefied natural gas) producer, signed a $29 billion deal with construction companies within the scope of the project to increase its LNG capacity. With the project in question, LNG export capacity is expected to increase 43 percent.
Saad Al-Kaabi, Qatar Energy Minister and CEO of Qatar Petroleum, announced a deal of about $13 billion with the two companies Chiyod Corp and TechnipFMC, which will do construction work. He stated that the total cost of the LNG capacity increase project will be 28.75 billion dollars.
“This was the main contract we were waiting to sign to finalize the costs of the project,” Kaabi said. QP will award an agreement to build storage tanks within the next two weeks and will sign almost all other project-related deals by the end of the year, he said.
Qatar maintains its leadership in the global market by exporting 77 million tons of LNG annually. However, developments in other regions, especially in Australia, could dethrone Qatar. While Australia, the U.S., and other producers have been ramping up output, Qatar’s LNG capacity has stayed mostly flat for a decade. With the new project, Qatar’s annual production is aimed to reach 110 million tons per year from 77 million tons. LNG is a form of super-chilled natural gas that can be shipped worldwide without the need for costly pipelines.
In the fourth quarter of 2025, the first gas for the expansion project will be produced, and each of the four LNG trains will be fully operational by early 2027. The capacity of each train is 8 million tons per year, “but we know that they can do more,” Kaabi said. Qatar plans to increase its production capacity even more — to 126 million tons per annum — by 2027.
As possible joint venture partners to take a 30 percent stake in the expansion project, Qatar is in talks with Exxon Mobil Corp., Chevron Corp., and ConocoPhillips, as well as other oil firms, Kaabi said. Next week, QP will issue tender documents to the firms and select a partner by the end of the year or choose to build the project alone, he said.
It will be the duty of each of the shareholders to finance their own portions of the investment, he said. Several Asian LNG buyers are also keen to invest in the project, and he said QP is also reviewing these offers.
Latest News from the Senate: The Impeachment Attempt was Decided to be Constitutional
The impeachment trial in the Senate began Tuesday for former president Donald Trump, who was accused of “inciting the public to revolt” and dismissed from the House of Representatives in the US Congress raid on January 6.
The first session of the Senate started with the opening speeches of the prosecutor’s representatives from the House of Representatives.
Democrat deputy Jamie Raskin, who is the chairman of the prosecutor’s deputies, in his presentation, accompanied by images of the Congressional raid on January 6, argued that Trump deliberately provoked the crowd. Raskin argued that there is enough evidence to dismiss Trump and that it is “a constitutional duty” to decide on Trump’s dismissal in the vote.
At the hearing, Republican Senator Rand Paul’s statement “the trial of an expired president is unconstitutional” was voted. On the first day, the sessions were also completed by voting.
In the vote, 44 Republican senators voted that it is unconstitutional to try Trump, while 56 senators found the trial constitutional. In addition to 50 Democratic senators, 6 Republican Senators voted against Trump. Namely: Sen. Susan Collins of Maine, Sen. Bill Cassidy of Louisiana, Sen. Lisa Murkowski of Alaska, Sen. Mitt Romney of Utah, Sen. Ben Sasse of Nebraska, Sen. Pat Toomey of Pennsylvania.
Last week, House impeachment managers requested that Trump gives testimony either before or during the trial. However, Trump senior adviser Jason Miller said the former president will not testify at what he considers to be an “unconstitutional proceeding.”
Mr. Trump’s lawyers will also argue that he was exercising his right to free speech by questioning the validity of the election outcome, and is not responsible for the actions of those who stormed the Capitol.
The actual presentations of the claims and defense authorities are expected to begin today. Each side will have 16 hours each to produce their presentations.
After the aforementioned presentations, the senators will be given time to address their questions to both sides, and this period can be up to 2 days.
After the senators’ Q&A, the final discussion is expected, followed by a vote to decide whether Trump is guilty or not.
Joe Biden Discussed $1.9 trillion Stimulus Package with the Top Executives of the Country’s Leading Companies
US President Joe Biden met with top executives of the country’s leading companies to discuss the $1.9 trillion economic recovery package he’s trying to push through Congress.
US Vice President Kamala Harris and US Treasury Secretary Janet Yellen also attended the meeting held in the Oval Office in the White House.
Jamie Dimon, Chief Executive of JPMorgan Chase, one of the major US banks, Doug McMillon, Senior Manager of the retail chain Walmart, Sonia Syngal, Senior Manager of the clothing store Gap, Marvin Ellison, Lowe’s Senior Manager and Tom Donohue, President of the US Chamber of Commerce, was among the people.
In a statement before the meeting, Biden stated that the US has invited leading business people to discuss the state of the economy and the stimulus package. Biden said the group would discuss the state of the economy and his rescue plan, which would raise the minimum wage, plus a forthcoming push to rebuild the nation’s roads and bridges.
“There’s a whole range of issues, but I think they’re all solvable,” Biden told reporters. “I’m anxious to hear what these business leaders have to say about what they think about how we’re approaching this issue and to see if we can find some common ground.”
Stating that they will also address infrastructure investments and the minimum wage, Biden added that he was curious about the opinions of business people, and that they found common ground with Democrats and some Republicans on the economic recovery package, therefore he was optimistic.
“The American people are hurting, a lot of people are in real, real trouble,” Biden told reporters in the Oval Office during a meeting.
Endorsements from major U.S. business leaders may help Biden win Republican support for his stimulus, while the White House has stated that it is ready with only Democratic votes to push the bill through Congress. Instead of the 60 votes currently necessary to fracture a filibuster, Congressional Democratic leaders have laid the groundwork for pushing the legislation using a method that would need only simple majority support in the Senate.
Biden will travel to Wisconsin next week as part of his continuing campaign to pitch the legislation to the public and will participate in a CNN town hall to talk about his domestic agenda.