World's biggest LNG supplier Qatar merges 2 gas producers
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Qatar is merging its two government-controlled liquefied natural gas companies, streamlining distribution of the fuel as the OPEC nation grapples with a slump in energy prices.
The Gulf country is the world's largest producer of LNG, which is natural gas chilled to liquid form for shipment on tanker ships.
Saad Sherida al-Kaabi, president and CEO of state oil company Qatar Petroleum, said Sunday the plan to combine Qatargas and the smaller RasGas will create a "unique global energy operator in terms of size, service and reliability."
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International oil giants including Total, ConocoPhillips, Exxon Mobil and Royal Dutch Shell have stakes in the Qatargas production lines. Rasgas is a joint venture between Qatar Petroleum and minority shareholder Exxon Mobil.
Officials say the merger should be finished within 12 months.