LNG

Oct 31 (LNGJ) - Qatar Petroleum has set up a company called Ocean LNG Ltd to market its future international LNG supply portfolio sourced from outside the State of Qatar, where its affiliates Qatargas and RasGas produce a combined 77 million tonnes per annum. QP said its move was motivated by its desire to continue to be a global LNG leader and to invest in LNG projects outside Qatar. A branch office of Ocean LNG will be established in the Qatar Financial Centre in the Gulf state’s capital, Doha, to manage and undertake the new company’s activities. “QP aspires to be one of the leading energy companies in the world. and LNG forms one of the cornerstones of these aspirations.,” said Saad Sherida Al-Kaabi, President and Chief Executive of QP. “As such, it is crucial for us to establish a global LNG marketing arm that will be instrumental in monetizing opportunities that Qatar Petroleum will be pursuing and capturing outside Qatar.” Ocean LNG is a joint venture between majority stakeholder QP and Ras Laffan liquefaction plant partner ExxonMobil.