Royal Dutch/Shell Group has signed a USD 5 billion plan to tap Qatar’s North natural gas field and convert its output into a range of motor fuels. Shell and state-controlled Qatar Petroleum reached a 25-year agreement for Shell to return to the emirate for the first time in more than a decade to convert 1.6 billion cubic feet of gas per day, which it will book in its reserves, into 140,000 barrels a day of transport fuels, Shell Chairman Phil Watts said in an interview. In addition to the gas, more than 60,000 barrels of gas condensate and natural gas liquids will be produced each day, Shell said. Watts declined to comment on the equity stakes to be held in the project.
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