Qatar Could Invest in Exxon's US Shale: Report
US major Exxon is in talks with Qatar regarding latter investing in former’s US shale gas assets, a report published by Wall Street Journal said April 10.
State owned Qatar Petroleum could invest by forming a joint venture or invest in future wells with Exxon subsidiary XTO Energy, people familiar with the matter told Wall Street Journal, without spelling out the financial details of the deal.
However, the newspaper said that no deal has been finalised yet and the talks could collapse. If the deal goes through, it will be first instance of a Middle Eastern nation investing in US unconventional hydrocarbon assets.
Exxon already has significant presence in Qatari LNG export plants. Qatar Petroleum is majority owner of the Golden Pass LNG terminal in Texas, with Exxon and ConocoPhillips owning minority stakes.
Qatar's Emir, Sheikh Tamin bin Hamid al Thani, has been on a state visit to the US which included a meeting with US President Donald Trump on April 10.