Qatar Petroleum (GP) on Tuesday in a statement said it will take full control in 2022 of Qatargas 1, which produces LNG and related products.
Qatargas also known as Qatargas Liquefied Natural Gas Company Limited (QG1), is a joint venture project between Qatar Petroleum and affiliates of Total, ExxonMobil, Marubeni and Mitsui. The joint venture deal will expire on 31 December 2021 and GP notes that it will not renew the agreement.
“As a result, Qatar Petroleum will become the sole owner of 100% of the QG1 assets and facilities on 1 January 2022,” the company notes. Established in 1984, Qatargas 1 has a production capacity of approximately 10 million tons per annum of LNG, the venture says on its website.
Qatar Petroleum to take full control of Qatargas 1 from January 2022
