With the start of the new year, Qatar’s two LNG producers, Qatargas and RasGas have started operating as a single company under the name of Qatargas.
Speaking at a news conference, Saad al-Kaabi CEO of Qatar Petroleum, the parent company of the merged LNG units, said this move will save the company around two billion riyals ($550 million) per year.
The two companies have started operations as a single unit on January 1, Qatar Petroleum said.
The new company now operates 14 LNG trains with a total annual production capacity of 77 million tons.
The company has a fleet of 25 purpose-built conventional vessels, each with a capacity of between 135,000 and 152,000 cubic meters. It also has a fleet of 31 Q-Flex and 14 Q-Max tankers on long-term charter, capable of transporting 210,000 cubic meters and 266,000 cubic meters of LNG respectively.
Current Qatargas CEO Sheikh Khalid Bin Khalifa Al Thani has been appointed as the chief executive of the new company.
1 QAR = 0.274725 USD