Qatar Petroleum (QP) plans to merge its two LNG subsidiaries Qatargas and Rasgas in its latest attempt to adjust to increased LNG competition and lower oil and gas prices. The merger forms part of QP’s wider effort to cut costs and streamline operations. The newly-formed entity – to be named Qatargas – will be the largest LNG company in the world, with 77mn tons/year of liquefaction capacity, effectively sharpening Qatar’s marketing operations in an increasingly competitive market.
The news does not come as a surprise as QP has been overseeing the two companies’ marketing strategies in the recent past. QP CEO Saad Sherida al-Kaabi says “the integration aims to create a truly unique global energy operator in terms of size, service and reliability.” (CONTINUED - 860 WORDS)
