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MENAFN: Qatar Petroleum & Shell GTL project to cost $18 billion

MENAFN – 28/07/2006  
  
(MENAFN) Qatar Petroleum and Royal Dutch Shell announced they would proceed with the Pearl gas-to-liquids (GTL) project, an integrated development, transport and processing hub for Qatar North Field gas resources, Gulf News reported.

Just months ago the status of the project was cast in doubt amid rising costs worldwide for oil and gas projects, due to shortages of equipment, labour and raw materials such as steel.

The Pearl GTL project may cost as much as $18 billion, triple earlier estimates, based on company-supplied figures.

Pearl GTL will extract natural gas liquids and ethane, and convert remaining gas into liquid hydrocarbon products through the construction of gas-to-liquids complex in Ras Laffan Industrial City.
 

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