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Abu Dhabi's XRG, BP, Qatar's UCC Secure Loran Gas Field Development Rights

GateNews

According to Jin10, on Thursday, XRG, the investment arm of Abu Dhabi National Oil Company, along with BP and Qatar's UCC oil and gas company, secured development rights to Loran gas field. The field, located in the Caribbean Sea at the border between Venezuela and Trinidad and Tobago, contains over 4 trillion cubic feet of natural gas reserves.

The natural gas will supplement industrial feedstock supplies to neighboring Trinidad and Tobago, including liquefied natural gas operations led by Shell and BP, as well as petrochemical and fertilizer plants that have faced extended gas rationing.

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