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;))