Qatar’s new LNG merger to save $550m in ops cost a year: QP

DOHA, Jan 3 (Reuters): Qatar Petroleum's merger of liquefied natural gas (LNG) producers Qatargas and RasGas will save the company two billion riyals ($550 million) annually in operation costs, QP's chief executive said on Wednesday.

The new entity, which is called Qatargas, started operations on January 1. Before the merger, Qatargas and RasGas were already the world's two biggest liquefied natural gas producers.

"This integration is an integral part of Qatar Petroleum's vision to become one of the best national oil and gas companies in the world, with roots in Qatar and a strong international presence," QP's CEO Saad al-Kaabi said in a news conference.