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Shell sees first Qatargas train 7 LNG exports soon
Shell disappointed investors on Thursday with below-forecast fourth-quarter profit.
February 3, 2011 1:10 by Reuters
First gas was fed into the new Qatargas liquefied natural gas train seven in January and the first LNG cargoes should be loaded within weeks, project partner Royal Dutch Shell said on Thursday.
Shell owns 30 percent of the 7.8 million tonne a year LNG plant in Qatar — already the world’s biggest LNG exporter — with state-owned Qatar Petroleum holding 70 percent.
“We expect the first shipment of LNG in the next few weeks,” Shell chief executive Peter Voser said in a conference call with journalists after the company’s Q4 2010 results.
On Jan. 6, then Qatari energy minister Abdullah al-Attiyah said train seven would start production within a month.
Voser added that major construction was complete at the Pearl Gas-to-Liquids (GTL) plant in Qatar, the world’s biggest, and commissioning for start-up was under way.
Shell disappointed investors on Thursday with below-forecast fourth-quarter profit, with concerns over its refining business overshadowing a sharp rise driven by higher oil prices.
(Reporting by Alex Lawler, Barbara Lewis and Daniel Fineren)