Qatar Petroleum merging offshore gas groups

Offshore staff

DOHA, QatarQatar Petroleum (QP) plans to integrate Qatargas and RasGas into a single entity named Qatargas.

This will operate all the ventures currently managed by the two entities.

Saad Sherida Al-Kaabi, QP’s president and CEO, said the aim is “to create a truly unique global energy operator in terms of size, service, and reliability…and enhance our competitive position.”

The newly combined entity will also operate all Qatar’s onshore LNG facilities.

Qatargas and RasGas produce gas from fields offshore Qatar. The main shareholders in the two companies are ExxonMobil, Total, ConocoPhillips, and Shell.

The integration process is expected to be completed within 12 months – existing operations will not be impacted, QP stressed.

01/20/2017

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