| QATAR GAS
- Qatar Liquefied Gas Company Limited – or Qatargas 1 pioneered
the LNG business in Qatar. The company was established to own and
operate a world-class onshore LNG plant utilizing natural gas from
the North Field, and to market and export LNG and associated condensate
worldwide. Qatar Petroleum (QP), the state oil company, is the major
shareholder in Qatargas 1 with 65%, along with joint venture participants
Total (10%), ExxonMobil (10%), Mitsui (7.5%) and Marubeni (7.5%).
Due to the enormous investments necessary to put in place the entire
LNG infrastructure, long-term contracts are required. In 1992 and
1994, two sales and purchase agreements were signed with Chubu Electric
and seven other Japanese power and gas companies for Qatargas 1
to supply 6 mtpa of LNG for a 25-year period. |