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Qatar, Japan's Itochu eye joint energy ventures

Dubai, November 6, 2007

Qatar and Japan's Itochu Corp have signed a deal to work on international joint ventures in oil, gas and petrochemicals, Qatar's state news agency QNA said.

Qatar's Oil Minister Abdullah al-Attiyah signed the memorandum of understanding between Itochu and Qatar Petroleum International (QPI) on Sunday, QNA said.

The statement gave no further details on potential joint projects.

QPI is the international invesmtent arm of Qatar Petroleum, and is looking at opportunities globally as Qatar looks to spend bumper revenues from high oil and gas prices.

Itochu Corp is Japan's fourth-largest trading company.

Qatar is the world's largest exporter of liquefied natural gas (LNG), which is gas chilled to liquid form for export on ships. Itochu owns a 4 percent stake in the Rasgas I LNG processing facility, which started up in 1999 and has annual output capacity of 6.6 million tonnes. - Reuters   

Tags: Qatar Petroleum International | Itochu |

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