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LNG merger to save QR2 billion a year in operational cost: QP

LNG merger to save QR2 billion a year in  operational cost: QP


Asif Iqbal
Doha
The successful integration of the country's two LNG firms, Qatargas and Rasgas, into a single entity will result in a potential annual operating cost saving of QR2 billion, QP President and CEO Saad Sherida al Kaabi has said.
"Following the announcement in December 2016, the two LNG companies have merged into a single LNG operating company from January 1. All the ventures that were operated by Qatargas and RasGas will now be operated by the new Qatargas," Kaabi said at a press conference on Wednesday.
The QP CEO said Sheikh Khaild bin Khalifa al Thani will be the CEO of the new company, which will present a more unified approach to the global LNG market, reaffirming the country's pre-eminent position in the global LNG business.
He said the integration aims to create a unique global energy operator in terms of size, service and reliability and also create higher value for stakeholders by enhancing the competitive position of the Qatari gas industry.
The new entity will have a production capacity of 77 million tonnes of LNG per annum from its combined 14 LNG trains.
"Qatargas will be the single entity exporting Qatari LNG to the world, under one shared vision, one management system, and one work culture," Kaabi said.
On being asked if the merger would affect the joint venture partners, Kaabi said all the trains that have several joint venture partners will remain the same.
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