Creating new perspectives since 2009

ExxonMobil's Qatar investment tops $30bn to push LNG expansion

September 13, 2023 at 5:18 pm

In this photo illustration, an ExxonMobil logo is displayed on the screen of an iPhone [Sheldon Cooper/SOPA Images/LightRocket via Getty Images]

The US oil giant, ExxonMobil, has pumped nearly $30 billion into gas projects in Qatar within long-term partnership agreements, its Senior Vice President has said, Zawya reports.

According to the report, Peter Clarke said ExxonMobil, one of the world’s largest oil firms, began investing in Qatar’s gas projects during  the 1990s and that it has contributed to the development of 12 of the 14 gas facilities in the Gulf country.

“We have also invested in 27 LNG vessels to transport Qatari gas … over the past years, we have invested nearly $30 billion in major projects in Qatar … we also have important ventures with Qatar in the US, mainly Golden Pass Terminal,” Clarke told the Qatari Arabic language daily, Asharq, in an interview published on Sunday.

State-owned QatarEnergy, formerly Qatar Petroleum, controls 70 per cent of the venture while 30 per cent is held by ExxonMobil, the report added.

READ: Qatar to join energy exploration in Eastern Mediterranean