World's biggest LNG supplier Qatar merges 2 gas producers
DUBAI, United Arab Emirates - Qatar is merging its two government-controlled liquefied natural gas companies, streamlining distribution of the fuel as the OPEC nation grapples with a slump in energy prices.
The Gulf country is the world's largest producer of LNG, which is natural gas chilled to liquid form for shipment on tanker ships.
Saad Sherida al-Kaabi, president and CEO of state oil company Qatar Petroleum, said Sunday the plan to combine Qatargas and the smaller RasGas will create a "unique global energy operator in terms of size, service and reliability."
International oil giants including Total, ConocoPhillips, Exxon Mobil and Royal Dutch Shell have stakes in the Qatargas production lines. Rasgas is a joint venture between Qatar Petroleum and minority shareholder Exxon Mobil.
Officials say the merger should be finished within 12 months.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Parkview Baptist teen preps for national rodeo
Dangerous hole in Zachary neighborhood posing serious threat, residents concerned
Power restored after storms pound East Baton Rouge again Friday
Mayor-president pushing for new sales tax to improve East Baton Rouge traffic
Hotel room sales tax increase proposal to appear on ballot in Gonzales
Temeka Johnson basketball camp about more than the game
Saints looking to fill backfield void during Ingram's 4-game absence
Saints RB Mark Ingram says he's 'not angry' with his contract
Sean Payton's coaching style propels him into 13th year with Saints
New coach excited to change basketball culture at Southern