Qatargas and RasGas will merge together

Qatar will merge state-owned liquefied natural gas producers Qatargas and RasGas Co Ltd, the chief executive of Qatar Petroleum (QP) said on Sunday, in the Gulf state’s latest reaction to lower energy prices, according to Reuters.
At a news conference, QP CEO Saad al-Kaabi said that behind the announcement was an element of wanting to cut costs. The transition, which will result in a single company called Qatargas, will take around 12 months to complete and will begin before the end of this year.
Once the new structure is in place, some areas of the business could see job cuts, although the operational side of the plants will not be affected, Kaabi said.
The two companies are two of the biggest LNG producers in the world, with Qatargas producing 42 million tonnes and RasGas producing 37 million tonnes of LNG per year.