Qatar Petroleum, a global leader in liquefied natural gas (LNG), plans to invest $20 billion in US oil and gas fields, chief executive officer Saad Sherida Al-Kaabi was quoted as saying in a media report.

The investments will be made over five years, he added, noting that the deal will be announced before the end of the year, according to a Gulf Times report, which cited Bloomberg News in Washington, USA.

Some of that will likely go toward lining up gas supplies for the Golden Pass LNG export project in Texas, being developed with ExxonMobil Corp, Al-Kaabi said.

Qatar is also looking to invest an additional $5 billion in downstream assets, such as chemicals projects, he said.