Qatar Petroleum to merge LNG giants Qatargas, RasGas
Qatar Petroleum (QP) plans to integrate Qatargas and RasGas Co. Ltd., forming a combined company will retain the name Qatargas and operate all of Qatar’s LNG ventures.
Qatargas operates seven LNG trains with production capacity of 42 million tonnes/year, expansion of which came through projects in partnership with ExxonMobil Corp., Total SA, ConocoPhillips, Royal Dutch Shell PLC, and Mitsui & Co. Ltd.
RasGas operates seven LNG trains with production capacity of 37 million tpy with a fleet of 27 LNG carriers under long-term charter agreements with ship owners. It also has developed offshore and onshore facilities for the extraction, processing, liquefaction, and storage of gas from Qatar’s North field, a primary gas source for both firms.
The integration process will start immediately and is expected to be completed within the next 12 months. QP says “the existing operations groups within both companies will not be impacted at all by the integration.”