LNG giant Qatar Petroleum to merge RasGas and Qatargas

Published December 11th, 2016 - 01:10 GMT
The integration process is planned to start immediately and is expected to be completed within the next 12 months. (File photo)
The integration process is planned to start immediately and is expected to be completed within the next 12 months. (File photo)

Qatar Petroleum announced Sunday a plan to integrate the activities of RasGas and Qatargas operating companies under a single entity, named Qatargas, which will operate all of the ventures currently being operated by both entities. 

President and CEO of Qatar Petroleum, Saad Sherida Al-Kaabi made the announcement today in a press conference held at QP headquarters. 

Al-Kaabi said "the integration aims to create a truly unique global energy operator in terms of size, service and reliability". He added that "we will merge the distinctive resources and capabilities of Qatargas and RasGas to create even higher value for our stakeholders, and enhance our competitive position". 

He said that the integration process is planned to start immediately and is expected to be completed within the next 12 months, noting that the existing operations groups within both companies will not be impacted at all by the integration, as the highest priority is given to ensuring a safe, seamless and risk-free business continuity. 

He told reporters that the integration of the activities of these two energy centers of excellence means that upon completion, there will be a single expanded and enhanced operating entity, named Qatargas, that will operate all of Qatar's LNG ventures. 

"The collective resources, talents, and capabilities of two global leaders will be joined to create an even more effective and efficient organization to uphold the best interest of the State of Qatar, our customers, and our shareholders," the President and CEO of Qatar Petroleum added. 

He paid tribute to the high Qatari competencies and capabilities, which were at the center of attention and development throughout the history of Qatargas and RasGas, and which have proven high professionalism in their various fields of expertise. 

He also affirmed that all Qatari nationals in both companies will be integrated into the new Qatargas organization, which constitutes a major cornerstone in our utmost commitment to building world-class Qatari talent. 

Al-Kaabi concluded his remarks at the press conference by emphasizing Qatar Petroleum's resolve to achieve its vision 'to become one of the best national oil companies in the world', and to ensure the reinforcement of Qatar's continued and sustainable economic growth.

Hence, this and other initiatives that QP has embarked upon, are all enablers that will make our vision become a reality. 


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