Qatar-UK gas supply deal

Exxon Mobil Corp. and Qatar Petroleum have signed an agreement to supply liquefied natural gas from Qatar to Britain. The agreement covers the development of two LNG trains, which are expected to be the largest ever built by industry, Exxon Mobil said. The feed gas for the trains will be from Qatar’s giant North Field, which has proven natural gas reserves in excess of 900 trillion cubic feet. Qatar Petroleum will have a 70% equity interest in the LNG trains, and Exxon Mobil 30%. The LNG trains will be built at the Ras Laffan Industrial City in Qatar. LNG shipments to Britain are scheduled to begin sometime in 2006 or 2007 and extend for 25 years. Exxon Mobil said it is currently looking into a number of potential sites in Britain for the import facility that will receive the LNG.

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