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Regions :: Middle East

Japanese firms sign deal with QP and Total for Laffan Refinery 2 project

7:15 AM MDT | April 22, 2013 | Deepti Ramesh

Idemitsu Kosan (Tokyo), Cosmo Oil (Tokyo), Marubeni (Tokyo), Mitsui & Co. (Tokyo), Qatar Petroleum (QP; Doha), and Total have reached an agreement to invest in the Laffan Refinery 2 (LR2) project, and the companies signed a joint venture agreement on 21 April. Under the agreement, QP will have an 84% stake in LR2, Total will hold 10%, Idemitsu and Cosmo Oil will each hold 2%, and Marubeni and Mitsui & Co. will each hold 1%. The first refinery, Laffan Refinery 1 (LR1), was established at the Ras Laffan Industrial City, in Qatar, with a refining...

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