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FINANCIAL NEWS
Qatargas, RasGas approve $1b flared gas project
25 Feb 2010
(MENAFN) Qatargas and RasGas have agreed on a $1 billion project to capture gas that is burnt off when ships load liquefied natural gas (LNG), Reuters reported.
According to a press statement, the project will recover gas that was equivalent to nearly 600,000 tons of LNG, enough to power almost 40,000 houses. The gas is currently burnt at the LNG jetty where tankers load in the industrial port of Ras Laffan.
The flared gas project is scheduled to be completed in late 2013 or early 2014. It will collect boiled off gas from LNG ships for use either as fuel, or for reprocessing at LNG plants. LNG plants freezes natural gas for export on specially designed tankers.
The companies said that the project would reduce greenhouse gas emissions at Ras Laffan.
It is worth noting that Qatar is the world’s largest exporter of LNG.
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