Daily Mail (UK): Shell seals £3bn Qatar gas deal: “OIL giant Shell went some way to replenishing its dwindling reserves as it signed a £3bn gas deal with the government of Qatar. The agreement will also help restore a little credibility lost after probably the worst year of upheaval in its 100-year history. The group slashed its reserves estimates five times in a scandal that eventually prompted the departure of three senior executives and sparked moves to merge Shell's UK and Dutch parent companies.” (ShellNews.net) 28 Feb 05

OIL giant Shell went some way to replenishing its dwindling reserves as it signed a £3bn gas deal with the government of Qatar.

The agreement will also help restore a little credibility lost after probably the worst year of upheaval in its 100-year history.

The group slashed its reserves estimates five times in a scandal that eventually prompted the departure of three senior executives and sparked moves to merge Shell's UK and Dutch parent companies.

The joint venture with State-run Qatar Petroleum will produce around 7.8m tons of liquefied natural gas a year for the next quarter of a century. And it will meet soaring worldwide demand for the fuel when the facility at Ras Laffan City starts pumping in around five years time.

The project, in which Shell will have a 30% stake, is the Anglo-Dutch giant's first LNG plant in Qatar, although it already has six similar operations elsewhere in the world.

Rival Exxon Mobil has recently started work on a similar project there.

http://www.thisislondon.co.uk/news/business/articles/timid398427?source=