| Description: | In 2003, ConocoPhillips and Qatar Petroleum signed a Heads of Agreement to develop Qatargas 3, a large-scale LNG project in Ras Laffan Industrial City, Qatar. The integrated project comprises upstream natural gas production facilities to produce approximately 1.4 gross BCFD of natural gas over the 25-year life of the project, as well as an initial average of approximately 70 MBD gross of liquefied petroleum gas and condensate combined from Qatar’s North field. In December 2005, the onshore engineering, procurement and construction (EPC) contract for the project was awarded, marking the final investment decision for the project. The EPC contract covers the requirements for a large-scale LNG train, with a nameplate capacity of 7.8 million gross tons per annum. The LNG will be shipped from Qatar in a fleet of large, state-of-the-art LNG carriers and is destined for sale primarily in the United States. |
