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Joint Venture Agreement for Qatar Industrial Gases Company

Source: www.gulfoilandgas.com 7/6/2005, Location: Middle East

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Qatar Petroleum, Qatar Nitrogen Company, and L’Air Liquide Middle East today signed in Doha a Joint Venture Agreement for the creation of a new joint venture company called Qatar Industrial Gases Company in the State of Qatar.

The official signature took place under the patronage of HE Abdullah Bin Hamad Al-Attiyah, Deputy Prime Minister and Minister of Energy and Industry. HE Al-Attiyah commented that this agreement is fully aligned with the directive of HH the Emir, Sheikh Hamad Bin Khalifa Al-Thani in developing the industries in Qatar for the prospect of the country. HE Al-Attiyah stated "we are pleased to have L’Air Liquide as a partner in Qatar and join us in this company, to contribute to the development of the industrial infrastructure both in Mesaieed and Ras Laffan, which will result in the growing development of the industrial infrastructures of this country.

"We are proud to partner with Qatar Petroleum and Qatar Nitrogen Company and thus contribute to the development of the industrial infrastructures of the State of Qatar by bringing L’Air Liquide’s experience and leadership technology position," said Pierre Dufour, Executive Vice-President of L’Air Liquide and chairman of L’Air Liquide Middle East. Qatar Petroleum and Qatar Nitrogen Company will hold 60% and Air Liquide with 40% in the Company sharing structure.

The newly created company will first set up new production facilities and pipelines to supply oxygen and nitrogen to the oil and gas, petrochemical and steel industries at Mesaieed Industrial City as soon as 2007. In parallel, Qatar Industrial Gases will develop a nitrogen production and distribution system in Ras Laffan Industrial City, which is becoming one of the most important LNG (Liquefied Natural Gas), GTL (Gas to Liquid) and petrochemicals sites in the world.

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