Qatar Petroleum to become 100% owner of Qatargas on 1 January 2022

Doha, March 31 – Neftegaz.RU. Qatar Petroleum announced that it will not be renewing the Qatargas LNG Company Limited (QG1) joint venture upon the expiry of the relevant agreements on 31 December 2021.
As a result, Qatar Petroleum will become the sole owner of 100% of the QG1 assets and facilities on 1 January 2022.

Established in 1984, QG1 is a joint venture between Qatar Petroleum and affiliates of Total, ExxonMobil, Marubeni and Mitsui.
QG1 was the pioneering LNG project to be developed in Qatar, whose success has paved the way for the development of Qatar’s LNG industry, leading to where it stands today.

Commenting on this announcement, Saad Sherida Al-Kaabi, CEO of Qatar Petroleum, said:

• The takeover by Qatar Petroleum will conclude more than 25 years of successful operations of QG1, from which the 1^st ever Qatari LNG cargo was exported
• This is a momentous event that highlights Qatar Petroleum’s efforts to further enhance the utilization of our natural resources for the benefit of our country and its current and future generations as well as to continue serving the world’s need for cleaner energy
• I would like to thank our valued partners, Total, ExxonMobil, Marubeni and Mitsui for their efforts in the development and operation of QG1 over the past 3 decades.
• This event marks the start of the next chapter in QG1’s history, which we hope and believe will be even more successful than the last chapter, and we look forward to serving our customers for the next 3 decades from this world-class asset

With a production capacity of approximately 10 million tons per annum of LNG, QG1 facilities will continue to be operated by Qatargas on behalf of Qatar Petroleum and will play an important role in supplying LNG to the world’s markets.