35. Case 31: Barzan Gas Project

Barzan gas project is a joint venture between Qatar gas and Exxon Mobil. The project is valued at $10.4 billion. RasGas is the project manager and responsible for operating the plant. The project work was initiated in the year 2011. The joint venture agreement and development and fiscal agreement by the two joint venture partners were signed during January 2011. The project consists of total of six trains. In the first phase, the project produced 1.7 billion cubic feet a day (bcfpd) of pure natural gas. The Barzan gas project was designed to be developed in three phases. The total capacity was 6.2 bcf per day of natural gas. The onshore facilities at the project site consists of a gas processing unit, sulphur recovery unit to remove impurities from the natural gas and natural gas liquids recovery unit. The project would extract gas from the Qatar’s North Field which is estimated to hold recoverable reserves of 900 trillion cubic feet and represent approximately 10% of the world’s known gas reserves. The project was financed through 30% equity and 70% syndicated loan from banks and credit export agencies.