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