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DOHA, July 1 (AFP) - Qatargas said Saturday that exports of liquefied natural gas (LNG) from January 1997 until end-June were worth 2.5 billion dollars, the Qatari news agency QNA reported. "The value of deliveries of LNG, of which 80 percent was destined for Japan, topped 2.5 billion dollars," according to official Qatargas figures. A country of just 522,000 people, four-fifths of whom are expatriates, the small Gulf Arab emirate sits on top of the world's third largest gas reserves after Russia and Iran. Its offshore North Field contains proven non-associated reserves of more than 10 trillion cubic meters (350 trillion cubic feet). Qatargas signed an agreement with seven Japanese companies -- Tohoku Electric Power, Tokyo Electric Power, Kanasai Electric Power, Chugoku Electric Power, Tokyo Gas, Toho Gas and Osaka Gas -- in December 1994 for the delivery of two million tons of LNG each year. Qatargas is a joint venture between Qatar General Petroleum Corporation that holds 65 percent of the ownership, France's Total (10 percent), Exxon Mobil of the United States (10 percent), and the Japanese companies Mitsui and Marubeni, each with 7.5 percent. |
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