QATAR PETROLEUM (QP) will invest or is negotiating investments abroad worth $20bn, including a $7bn oil refinery in Panama with Occidental Petroleum, Qatar’s deputy prime minister has said.
Qatar Petroleum International (QPI), the state-owned QP’s foreign investment arm, has “teamed up” with Occidental to build a 350,000 barrel-a-day oil refinery in the Central American country, HE Abdullah bin Hamad al-Attiyah, who is also the energy and industry minister, said in comments published yesterday by Qatar News Agency (QNA).
QPI also owns a 70% stake in a project that is building a liquefied natural gas terminal in Texas at a cost of $2.2bn, the company’s chief executive officer Nasser al-Jaidah, said in the QNA report.
ExxonMobil, the world’s biggest publicly traded oil company, owns a 20% stake in the project and ConocoPhillips, the second-largest US refiner, 10%, the report said.
QPI also owns a 45% stake in an Italian LNG receiving terminal that will be completed in 2008. ExxonMobil owns another 45% stake in the project with Italian company Edison owning the rest, QNA said.
Al-Jaidah also said Qatar would export 4.8mn tonnes of LNG to the Italian terminal.
“Currently, we are building a terminal to receive Qatari LNG that will be exported to Italy before the end of next year,” QNA said citing al-Jaidah.
“We are expecting to export 4.8mn tonnes annually which is expected to increase to about 6mn tonnes per year.” – Bloomberg, Reuters |
