Qatar Goes Cold on Yamal

Qatar is no longer in negotiations to take a stake in an Arctic liquefied natural gas (LNG) project under development by Russian gas producer Novatek , an executive at Qatar Petroleum International (QPI) said on Tuesday.

Qatar's energy minister, Mohammed al-Sada, said in late 2011 the world's leading LNG producer was keen to join the project, which backers Novatek and Total hope will produce super-cooled gas from the Arctic Yamal peninsula by 2016.

But the tiny desert state, which has already grown wealthy from selling LNG out of the world's largest gas field under the warm waters of the Gulf, has gone cold on Yamal.

(Reuters)

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