Qatar Petroleum Moves To Take Full Ownership Of LNG Facilities

2 Apr 2021 Issue: 64 / 13 By: Jamie Ingram

Having previously taken greater control over its oil fields, Qatar Petroleum is now eying its world-leading LNG facilities. The state firm will take over Qatargas 1 from January 2022, ending Total and ExxonMobil’s 25-year stint at the project.

Qatar Petroleum announced on 30 March that it is to take full ownership of the 9.9mn t/y Qatargas 1 LNG Joint Venture (QG1). The existing JV partners QP with Exxon Mobil, Total and Japanese firms Marubeni and Mitsui. The JV expires on 31 December this year: QP will take 100% control from 1 January 2022.

QG1 is Qatar’s oldest LNG project and consists of three 3.3mn t/y liquefaction trains at the Ras Laffan industrial city (see map). It was formed in 1984, and was the launchpad for Qatar’s eventual ascension to industry primacy, exporting its first LNG cargo in late-1996 (MEES, 30 December 1996). Shareholders in the upstream portion are QP (65%), Total (20%), ExxonMobil (10%), and Mitsui and Marubeni (2.5% each), while participation in the downstream is QP (65%), ExxonMobil (10%), Total (10%), and Mitsui and Marubeni (7.5% each). (CONTINUED - 1219 WORDS)