Qatar Petroleum to become sole owner of Qatargas 1 in 2022 -statement

Qatar Petroleum said it would not renew agreements with the companies when they expire on 31 December 2021

  
Image used for illustrative purpose. A security guard keeps watch during the open ceremony of PTT's sixth Gas Separation Plant near Map Ta Phut.

Image used for illustrative purpose. A security guard keeps watch during the open ceremony of PTT's sixth Gas Separation Plant near Map Ta Phut.

REUTERS/Sukree Sukplang

DUBAI - Qatar Petroleum (QP), the world's top liquefied natural gas (LNG) supplier, will in 2022 take full ownership of Qatargas 1, which produces LNG and related products, it said in a statement on Tuesday.

Formally known as Qatargas Liquefied Natural Gas Company Limited (QG1), the project is a joint venture between Qatar Petroleum and affiliates of Total , ExxonMobil , Marubeni and Mitsui .

Qatar Petroleum said it would not renew agreements with the companies when they expire 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."

Qatargas 1, established in 1984, has a production capacity of approximately 10 million tons per annum of LNG, according to information on its website.

(Reporting by Hadeel Al Sayegh; Editing by Kirsten Donovan) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))

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