Qatar Petroleum International mulls investment in shale gas resources in North America

13-Dec-11

Qatar Petroleum International (QPI) is mulling investment in shale gas resources in North America. QPI plans to invest with Total, Shell, ExxonMobil, and is currently in discussions only with international oil companies, as per Reuters. The company is also eyeing a venture with Petrovietnam to build a petrochemical plant in Vietnam and is interested in investments in Russia's Yamal gas project, QPI's chief executive said. Qatar is keen to take a stake in the Yamal arctic liquefied natural gas (LNG) project under development by Russian gas producer Novatek. The project will develop the South Tambey field located in the Arctic area of the Yamal peninsula. Also under consideration is a stake in Russia's number-two gas producer Novatek. Power generation represented another target area for the company, as it explores opportunities in power generation in Oman, and Dubai. QPI has signed a memorandum of understanding with British utility Centrica to explore joint investment opportunities in the UK. Investment targets would include new or existing projects in upstream oil and gas including LNG, gas storage as well as combined-cycle gas turbine generation assets and downstream opportunities.