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.
Waffle House shooting leaves teen dead, 2 others hurt in Ascension
Raging car fire caught on video at Siegen Lane intersection
Coast Guard rescues 7 people, dog from burning boat in gulf
False River shut down Saturday after deadly boating accident; person still missing
Video shows aftermath of triple shooting in Ascension
Southern baseball wins game one 21-2 over Alcorn
VIDEO: Former Saints and Tiger Devery Henderson talks about the difference between...
New NCAA rules tweak opens door for more SEC dominance
VIDEO: Devery Henderson Talk about Bluegrass Miracle and the Saints "Rebirth game"
VIDEO: Former Tigers and Saints receiver Devery Henderson talks with Corey Rholdon...