Qatar has ended its 12-year self-imposed moratorium on development of the giant North Field it shares with Iran. The timing comes just as Iran has stepped up its own output from the field. Renewed development should enable Qatar to take advantage of the next window for LNG exporters around 2024.

Qatar Petroleum announced on 3 April that it plans to “develop a new gas project in the southern sector of the North Field.” It anticipates that this will boost output by around 2bn cfd,...