Qatar: Integration with Ras Gas Qatargas Starts Operations
Qatar Petroleum has announced the official start of operations of the new Qatargas following the successful completion of the integration with Ras Gas, which was announced in December 2016.
Doha/Qatar — Saad Sherida Al-Kaabi, President & CEO of Qatar Petroleum made the announcement in a press conference held at QP headquarters in the presence of representatives of Exxon Mobil, Total, Conoco Phillips, and Shell — the main international shareholders in both companies.
The company's aim was to integrate the two companies’ resources and capabilities to create a unique global energy operator in terms of size, service and reliability, the CEO said, adding that they also aimed to create higher value for stakeholders, and enhance the competitive position of the Qatari gas industry.
According to the statement, this integration will ultimately save the company around 2 billion Qatari Riyals ($ 550 million) in operating cost annually.
As of January 1st , 2018, all the ventures that were operated by Qatargas and Ras Gas are now operated by the new ‘Qatargas’.
Qatargas will be the single entity exporting Qatari LNG.