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QP to become Sole Owner of Qatargas 1 in 2022

Qatar Petroleum (QP), the world's top liquefied natural gas (LNG) supplier, will in 2022 take full ownership of Qatargas 1, which produces LNG and related products, it said in a statement on Tuesday.

 

Formally known as Qatargas Liquefied Natural Gas Company Limited (QG1), the project is a joint venture between Qatar Petroleum and affiliates of Total, ExxonMobil, Marubeni and Mitsui.

 

Qatar Petroleum said it would not renew agreements with the companies when they expire on 31 December 2021.

 

"As a result, Qatar Petroleum will become the sole owner of 100% of the QG1 assets and facilities on 1 January 2022."

 

Qatargas 1, established in 1984, has a production capacity of approximately 10 million tons per annum of LNG, according to information on its website.

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