Qatar Petroleum has announced its plan to merge all activities of LNG producers RasGas and Qatargas under a single entity known as Qatargas.
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After the integration, Qatargas will operate all ventures that are currently operated by these two companies.
International shareholder companies of both entities include ExxonMobil, Total, ConocoPhillips and Shell.
Qatar Petroleum president and CEO Saad Sherida Al-Kaabi said: “The integration aims to create a truly unique global energy operator in terms of size, service and reliability.
"We will merge the distinctive resources and capabilities of Qatargas and RasGas to create even higher value for our stakeholders, and enhance our competitive position.”
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By GlobalDataAl-Kaabi added: “The collective resources, talents, and capabilities of two global leaders will be joined to create an even more effective and efficient organisation to uphold the best interest of the State of Qatar, our customers, and our shareholders.”
He affirmed that all Qatari nationals working in these two LNG companies will be placed into the new Qatargas organisation.
Expected to be completed within a year, the integration process is scheduled to commence immediately.
Qatar Petroleum claimed that the merger will not impact the existing operations of the two companies and there will be smooth and seamless business continuity.
Image: Rasgas former office at Al Dana Tower, Doha. Photo: Courtesy of Sodabottle / Wikipedia.
