Qatar Petroleum to become sole owner of Qatargas

Qatar Petroleum will change into the only real proprietor of Qatargas Liquefied Pure Fuel Firm Restricted (QG1) as of 1 January 2022, upon the expiry of the QG1 three way partnership

QG1, a three way partnership between Qatar Petroleum and associates of Complete ExxonMobil, Marubeni and Mitsui, was established in 1984 and pioneered the primary LNG challenge in Qatar, paving the best way for the event of the nation’s profitable LNG business.

HE Saad Sherida Al-Kaabi, Qatar’s Minister of State for Power Affairs and president and CEO of Qatar Petroleum mentioned, “The takeover by Qatar Petroleum will conclude greater than 25 years of profitable operations of QG1, from which the primary ever Qatar LNG cargo was exported. It is a momentous occasion that highlights Qatar Petroleum’s efforts to additional improve the utilisation of our pure assets for the advantage of our nation and its present and future generations, in addition to to proceed serving the world’s want for cleaner vitality.”

“I want to thank our valued companions, Complete, Exxonmobil, Marubeni and Mitsui for his or her efforts within the growth and operation of QG1 over the previous three a long time,” he continued.

With a manufacturing capability of round 10 million tonnes every year of LNG, QG1 amenities will proceed to be operated by Qatargas on behalf of Qatar Petroleum.