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FINANCIAL NEWS
Qatargas grants contract for Laffan 2 refinery
14 May 2013
(MENAFN) Qatargas announced that it granted the Laffan Refinery 2 (LR2) contract to a joint venture of Japan’s Chiyoda Corporation and Taiwan’s CTCI Corporation, reported Arabian Business.
The joint venture will construct and commission the USD1.5 billion light oil refinery.
Last month, Qatargas’ parent company, Qatar Petroleum (QP), inked a joint venture deal with Total, Idemitsu, Cosmo, Marubeni and Mitsui for the new Laffan refinery project.
According to the agreement, QP will own an 84-percent stake in the project, whereas Total will hold a 10-percent stake, and each of Idemitsu and Cosmo will own a 2-percent stake, while Marubeni and Mitsui will each have a 1-percent stake.
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