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FINANCIAL NEWS
Qatar’s QPI, UK’s Centrica sign partnership deal
07 Dec 2011
(MENAFN) Qatar Petroleum International (QPI) said that it inked a partnership deal with UK’s Centrica to launch joint energy projects worldwide, reported Arabian Business.
The firm added that under the agreement, investment targets would include new or existing projects in upstream oil and gas including liquefied natural gas (LNG), gas storage and combined-cycle gas turbine (CCGT) generation assets and downstream opportunities.
On the other hand, it said that earlier this year, the two companies inked a USD3 billion three-year contract for the supply of 2.4 million tons of LNG annually which provides enough gas to meet around 10 percent of Britain’s annual residential gas demand during the delivery period.
It is worth noting that QPI is the investment arm of Qatar Petroleum, whereas Centrica is the parent company of British Gas.
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