The Qatargas II project is being pursued by Qatar Petroleum (QP)and the US' ExxonMobil Corporation. Under the heads of agreement signed a year ago between the two parties, QP will take a 70 per cent stake and ExxonMobil a 30 per cent interest in the two new liquefaction trains to be built at the Qatargas site (MEED 28:6:02).
Gas feedstock for the proposed new trains is expected to be sourced from the Al-Khaleej gas project, which is being jointly developed by QP and ExxonMobil. The first train is due to be commissioned in 2007, with the output earmarked for the UK market.
Royal Bank of Scotlandwas appointed as financial adviser on the Qatargas II project in early 2003 (MEED 17:1:03).
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