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Qatar Petroleum investing in US expansion

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LNG Industry,


According to Reuters, Qatar Petroleum (QP) is reportedly looking to invest a minimum of US$20 billion in the US over the next few years. This announcement was made by the company’s CEO, and follows the recent news that Qatar has quit OPEC.

The current Minister of Energy in Qatar and former President and CEO of QP, Saad Sherida al-Kaabi, told Reuters that, as part of its US$20 billion US investment push, QP is looking “at gas and oil, conventional and non-conventional.”

Kaabi also said that QP is aiming to announce foreign partners for new LNG trains that are required for the execution of the ambitious domestic scale-up the company has planned for the middle of next year. He added that the company was also still weighing up the possibility of proceeding alone.

As far as its US expansion goes, QP is already the majority shareholder in the Golden Pass LNG terminal in Texas. Exxon and ConocoPhillips hold minority stakes in this venture. Kaabi informed Reuters that he expects a final decision regarding Golden Pass, and whether or not to proceed with it, by January at the latest.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/17122018/qatar-petroleum-investing-in-us-expansion/

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