In 2003, ConocoPhillips and QatarEnergy signed a Heads of Agreement to develop Qatargas 3, a large-scale liquefied natural gas (LNG) project in Ras Laffan Industrial City, Qatar. ConocoPhillips holds a 30 percent interest in this integrated project comprising approximately 1.4 gross BCFD of natural gas production over the 25 year life span of the project, as well as an initial average volume of approximately 70 gross MBPD of liquefied petroleum gas and condensate combined from Qatar’s North field.

The project also includes a 7.8 million gross tons per annum LNG facility. The first LNG cargo was loaded in November of 2010. The LNG carriers are owned by Qatargas Transport Company (Nakilat) and chartered to Qatargas 3. To capture cost savings, Qatargas 3 executed the development of the onshore and offshore assets as a single integrated project with Qatargas 4. This included the joint development of offshore facilities situated in a common offshore block in the North field.

Production from the LNG trains and associated facilities of Qatargas 3 and Qatargas 4 joint ventures is combined and shared. This project is part of the world’s largest LNG complex and one of ConocoPhillips’ key assets.