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Gulf-Times (Qatar): QPI, Gazprom eye ‘unlimited co-operation’

Published: Monday, 2 July, 2007, 03:24 AM Doha Time 
Business Reporter

DOHA: Qatar Petroleum International and Russia’s Gazprom, the world’s biggest gas company, will explore investment opportunities in their respective countries and elsewhere, HE the Deputy Premier and Minister of Energy and Industry Abdullah bin Hamad al-Attiyah has said. Attiyah said the MoU signed between QPI and Gazprom in Moscow recently had not set any limit on the possible areas of co-operation.

“We are looking at joint investments in the hydrocarbon sector in Russia, Qatar and in other countries.

“We don’t look at the map and decide the location. Wherever there are opportunities, we will explore them,” he said.

QPI, Qatar Petroleum’s overseas investment arm, has already made multi-billion-dollar investments abroad, teaming up with ExxonMobil and ConocoPhillips (focusing on the Golden Pass LNG terminal in the US) and with ExxonMobil and Total on the South Hook Terminal near Wales in the United Kingdom.

Both the terminals will be receiving gas from RasGas and Qatargas.

QPI is also in the process of forming a joint venture with Shell to invest in energy-related ventures outside Qatar.

Al-Attiyah said QPI’s remit would cover upstream oil and gas exploration to building refineries and petrochemical plants.

He said QPI was very keen to co-operate with Gazprom, Russia’s major company.
“We already have a MoU in place. It will form the basis for launching joint ventures at several places,” he said.

The MoU was signed for QPI by al-Attiyah while Gazprom deputy board chairman Alexander Medvedev inked the deal on behalf of his firm.

Attiyah said he had a “very fruitful” meeting with Russian Minister of Energy and Industry, Victor Khristenko. “I also met the Lukoil president”. “Besides co-operation with QPI, I discussed aspects relating to the establishment of a formal grouping of gas producers,” the deputy premier said.

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