QATAR TO INVEST $20 BILLION INTO US ENERGY IN MAJOR EXPANSION




Serhat TUNAR –TDO- After Qatar recently announced its intention to withdraw from the Organization of the Petroleum Exporting Countries (OPEC), its state-run oil giant has pledged hefty investments in the US energy sector, RT reported.

Qatar Petroleum is seeking to invest some $20 billion in various projects in the US over the next five years, Qatar’s Energy Minister Saad al-Kaabi told journalists in Doha.

According to the top-official, Qatar is interested in projects connected to both liquefied natural gas (LNG) and natural gas supplies, as well as crude production.

In particular, the company is planning to revive the multi-billion-dollar Golden Pass LNG terminal in Texas. Qatar Petroleum owns 70 percent of the project with American energy multinationals ExxonMobil and ConocoPhillips splitting the rest.

Earlier this month, Qatar, the world’s largest exporter of liquefied natural gas, said it was quitting the Saudi-dominated OPEC oil cartel on January 1, putting an end to nearly 60-year membership in the organization.

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