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FINANCIAL NEWS
Shell, Qatargas to load LNG cargo
04 Feb 2011
(MENAFN) The Chief Executive of Royal Dutch Shell, Peter Voser, said that the company, which is a partner with Qatarqas in the Qatargas liquefied natural gas project, plans on loading the train’s first LNG cargo soon, reported The Peninsula.
The CEO said that the new Qatargas liquefied natural gas train had previously received its first oil supply earlier in January 2011.
Voser said that the 7.8 million tons a year LNG plant in Qatar, the biggest LNG exporter in the world, is 30 percent owned by Royal Dutch Shell and 70 percent by state-owned Qatar Petroleum.
It is worth noting that Shell’s earnings results in the fourth quarter of 2010 was disappointing, however they still managed to surpass its competitor BP which is still recovering from the costs of the Gulf of Mexico oil spill.
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