Exxon Tight-Lipped on Qatar Talks

In a conference call to analysts, ExxonMobil investor relations chief and company secretary Jeff Woodbury talked up the company's long-term relationship with Qatar Petroleum (QP). But he did not reply to a question on where talks by various majors, particularly Exxon, have led to date about joining QP's planned 30% expansion of nameplate LNG export capacity from 77mn mt now to 100mn mt/yr by 2025.

Qatar today is the world's largest LNG exporter, and anxious not to be left behind as the US and Australia both look set to overtake it in or shortly after 2020.

Other rival firms, besides ExxonMobil, known to be in talks with QP too on its expansion plans include Shell, Total and newcomer Eni.

Woodbury said that ExxonMobil's relationship with QP dated back over two decades – it was originally begun by Mobil, and one of the reasons for Exxon buying Mobil in the first place – and had been a "successful venture" with "both sides bringing value to that relationship". He added: "This is a very low cost supply and we are proud of the role we played in 12 of the 14 liquefaction trains." ExxonMobil had also contributed technology for bigger LNG carriers, he said.

Brazil and Cyprus were areas where ExxonMobil and QP had leveraged their capabilities, he added, in a reference to the Exxon-QP joint venture Ocean LNG's supply deal to Brazil starting 2020 and the two companies joint gas exploration offshore Cyprus.

A Qatari group, led by the state's veteran former energy minister, will next month honour former ExxonMobil CEO Lee Raymond for his role in developing Qatar into the world's largest LNG exporter.