Qatar, Sasol-Chevron sign $6b deal

Qatar, Sasol-Chevron sign $6b deal

DOHA: Qatar signed on Tuesday a US$6 billion memorandum of understanding with South African-U.S. partnership Sasol-Chevron for three gas-to-liquid (GTL) projects, Energy Minister Abdullah al-Attiyah announced.

One project involves the $1.4 billion expansion of a GTL plant from 34,000 to 100,000 barrels per day (bpd), while another is a $4.5 billion project to build an integrated facility to produce 130,000 bpd of GTL, the minister said.

The third project is to produce a GTL by-product at a cost of $150 million, Attiyah told a press conference.

"I welcome these projects and I welcome the participation of Sasol-Chevron. We are working hard to realize the ambition of the state of Qatar to become the GTL capital of the world and these projects will make an important contribution to achieving that aim," the minister said.

A press statement by Qatar Petroleum said "the combined plan will represent an investment of more than $6 billion, making it one of the most significant developments in the global GTL industry to date." -- AFP