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RasGas and Qatargas to merge

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LNG Industry,

According to Reuters, Qatar will merge RasGas Co Ltd and Qatargas – its two state-owned LNG producers.

Reuters claims that the transition will commence before the end of 2016 and will take approximately 12 months to complete. Once merged, the single company will be called Qatargas.

The CEO of Qatar Petroleum, Saad al-Kaabi, reportedly said at a news conference: “Of course as an outcome of this cost reduction will be realised, it will make us more competitive in the market,” noting that the merger would save "hundreds of millions of dollars.”

"It's one business that will do the same thing. Putting it all (in) one place gives you a much bigger advantage in marketing."

Reuters claims that Kaabi added that, although some jobs may be cut in certain areas of the business, the operational side of the plants will not be affected by the merger.

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