LNG giant QatarEnergy said it would take over all the marketing and related activities currently managed by its unit Qatargas.
QatarEnergy said in a statement on Monday that it expects to complete integration of these activities into the company by the end of 2023.
According to the LNG producer, the strengthened alignment of LNG marketing activities within QatarEnergy will leverage a combined set of technical, commercial, and financial capabilities of both organizations to “create an enhanced center of excellence for the marketing and sale of all energy products exported from the State of Qatar.”
QatarEnergy currently manages the marketing and sale of all products produced for export by its group of companies/affiliates, with the exception of LNG and also helium.
Once the new move is complete, QatarEnergy will be the single point of responsibility for all existing and prospective customers interested in the purchase of energy products from Qatar, it said.
Qatargas operates the giant Ras Laffan LNG export complex with a production capacity of 77 million tons per annum.
QatarEnergy and its unit Qatargas are also working on two expansion projects.
Together, NFE and NFS form the wider North Field Expansion project to increase LNG production from the North Field, adding about 48 mtpa to Qatar’s export capacity and bringing it to 126 mtpa by 2027.
“The integration of the LNG marketing activities into QatarEnergy is a strategic decision taken as part of its growth journey and reaffirms our commitment to delivering excellence in everything we do,” Qatar’s energy minister and chief executive of QatarEnergy, Saad Sherida Al-Kaabi, said.
“This move takes QatarEnergy one step closer to achieving our vision to becoming one of the best energy companies in the world, and we are grateful for the support that our trusted international partners have placed in us for delivering on this critical strategic initiative,” he said.