Ivanhoe Energy, Qatar Petroleum end GTL talks

By OGJ editors

HOUSTON, June 4 -- Vancouver-based Ivanhoe Energy Inc. and Qatar Petroleum Co. have terminated negotiations for Ivanhoe to develop a block in Qatar's North field for production of natural gas liquids and gas to liquids (GTL) products, Ivanhoe reported.

"We are very disappointed that negotiations have not been successful," said E. Leon Daniel, Ivanhoe president and CEO. "We have been looking at a number of countries with plants of various sizes," he added.

"Ivanhoe plans to undertake a strategic review of GTL and its other core businesses in the light of currently strong natural gas markets," he said. "This will include reassessment of priorities of our GTL plans relative to our California, Texas, China and other oil and gas exploration and production and enhanced oil recovery developments. However, we have every reason to believe that our long-term GTL strategy will prove to be sound."