12 June 2004
DOHA - The Second Deputy Premier, Minister of Energy and Industry, and Chairman of Qatar Petroleum, Abdulla bin Hamad Al Attiyah, has formally signed the Memorandum and Articles of Association for the recently-formed gas transport company, Q-Gas, which has an initial capital of QR4.6 billion.
Other signatories at the signing ceremony, at The Ritz-Carlton, Doha, included the Chairman of Qatar Navigation and Transport Company, Sheikh Hamad bin Suhaim Al Thani; Minister of Finance, Yousef Hussain Kamal; the Governor of Qatar Central Bank and Chairman of the General Pension and Retirement Authority, Abdulla bin Khalid Al Attiyah; the Chairman of Qatar Shipping Company (Q-Ship), Salem bin Butti Al Nuaimi; and the Acting Director-General of the Qatar Foundation for Education, Science and Community Development, Mohamed Al Henzab.
Speaking on the occasion, Minister Al Attiyah said the new company, which is expected to be the largest Liquefied Natural Gas (LNG) shipping company in the world, will achieve a good, long-term and risk-free return for shareholders, because Qatargas and RasGas, who have contracts to supply LNG to Europe and the USA for 25 years, will lease the LNG tankers from Q-Gas, for the duration of those agreements.
FROM OUR CORRESPONDENT
© Khaleej Times 2004
