The Qatari gas company Rasgas has signed a deal to build a US$1 billion gas terminal on Italy’s coast, according to an advisor to the country’s emir.
Production at the facility, which has a capacity of up to 8 billion cubic meters will start in 2007, according to the emir’s aide on economic affairs, Ibrahim Al Ibrahim.
Under the terms of the deal 90% of the project will be owned by Qatar Petroleum and its partner ExxonMobil, while the rest would be held by Italy’s Edison Gas.
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