Qatar, US launch huge LNG project in strategic alliance

DOHA (AFP) – Qatar and Washington have launched a joint project to build the world’s largest liquefied natural gas (LNG) refinery mostly for export to the United States, in a 14-billion-dollar strategic alliance between the two countries.

Qatar Petroleum has a 70-percent stake in the project and ExxonMobil Ras Laffan III Limited, a subsidiary of the US oil major ExxonMobil, the remaining 30 percent.
In a first phase, the RasGas-3 plant is to produce 15.6 million tons a year of LNG through two trains, the first of which will be operational from the second half of 2008, according to an official statement.

Under the 25-year accord starting in 2008 — signed Tuesday during a visit by US Energy Secretary
Samuel Bodman — Washington will import 25-30 percent of its LNG needs from Qatar, Qatari Energy Minister Abdullah bin Hamad al-Attiya told AFP.

AFP