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Reuters: Qatar, Shell LNG project cost rises to $8 bln

Wed Jul 11, 2007 9:36 AM BST

DOHA, July 11 (Reuters) – The cost of a joint venture between Qatar and Royal Dutch Shell (RDSa.L: Quote, Profile , Research) to build the Qatargas 4 liquefied natural gas plant will be $8 billion, the Gulf Arab state’s Energy Minister said on Wednesday.

The cost is up on initial estimates of around $6 billion to $7 billion made by Qatari officials when the deal was first announced in 2005.

“The all-inclusive cost will be about $8 billion,” Energy Minister Abdullah al-Attiyah told reporters in Arabic after a signing ceremony for the formation of the joint venture with Shell on Wednesday.

The plant was due to start up late in 2010, said Linda Cook, head of Shell’s gas and power division.

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