Qatar Petroleum will not be renewing the Qatargas Liquefied Natural Gas Company Limited (QG1) joint venture and will become the sole owner of Qatargas from 2022.

Source: Qatargas

Qatar Petroleum will own 100% of the QG1 - a joint venture between Qatar Petroleum and affiliates of Total, ExxonMobil, Marubeni and Mitsui - assets and facilities on 1st January 2022, Qatar Petroleum said in a statement. 

Qatargas has three helium facilities, with a combined production capacity of 2.6 billion standard cubic feet per year, with the helium produced from the QG1, QG2, and QG3 (once Q3 starts up) LNG trains.

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said, “The takeover by Qatar Petroleum will conclude more than 25 years of successful operations of QG1, from which the first ever Qatari LNG cargo was exported. This is a momentous event that highlights Qatar Petroleum’s efforts to further enhance the utilization of our natural resources for the benefit of our country and its current and future generations as well as to continue serving the world’s need for cleaner energy.”

With a production capacity of approximately 10 million tonnes per annum of LNG, QG1 facilities will continue to be operated by Qatargas on behalf of state-owned Qatar Petroleum.

Qatargas, the world’s leading liquefied natural gas (LNG) supplier, signed a deal in February for the first phase of its North Field LNG project expansion, which will take Qatar’s LNG production capacity to 110 million tonnes per annum by 2025. The project will also produce helium and Qatargas is the operator of Qatar’s helium production, storage and loading facilities located in Ras Laffan.

Al-Kaabi added, “This event marks the start of the next chapter in QG1’s history, which we hope and believe will be even more successful than the last chapter, and we look forward to serving our customers for the next three decades from this world-class asset.”

In February, Qatargas reached a significant milestone when it loaded the 10,000th cargo of helium from its Helium-2 plant in Ras Laffan.