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FinancialNews


  • 06-02-19

    Qatar Petroleum, ExxonMobil sign USD10b investment deal for LNG plan

    (MENAFN) Qatar Petroleum signed an agreement with U.S. ExxonMobil on USD10 billion investments directed towards the upgrade of the Golden Pass LNG export project.

    Golden Pass Products LLC, owner of the project, is a joint venture with Qatar Petroleum having 70 percent in it while ExxonMobil acquired 30 percent.

    "The Golden Pass LNG export project is not our first investment in the United States, and is certainly not going to be our last. It represents a significant part of the plans that Qatar Petroleum had announced to invest $20bn in the US energy sector, which we believe would bring great benefits for both the United States and the State of Qatar," affirmed President and CEO of Qatar Petroleum H E Saad bin Sherida Al Kaabi

    "The extensive experience of ExxonMobil and Qatar Petroleum provides the expertise, resources and financial strength needed to construct and operate an integrated liquefaction and export facility in the United States," stated ExxonMobil chair and CEO Darren Woods.

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