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Honeywell's UOP And Qatar Petroleum To Jointly Develop Natural Gas Treating Technology

DOHA, Qatar, Jan. 30, 2014 /PRNewswire/ -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that it has signed a joint research and development agreement with Qatar Petroleum (QP) to develop new ways to cost effectively treat natural gas for the production of Liquefied Natural Gas, or LNG. 

Under the agreement, the two companies will work together to develop more efficient technologies to remove contaminants from natural gas, so that it can be liquefied for transportation by ship and other means.

The agreement was signed at QP headquarters by His Excellency Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry and Chairman of QP, and UOP President and CEO Dr. Rajeev Gautam.

Honeywell's UOP is a leader in natural gas treating technologies, which are currently used in QP's LNG and gas processing facilities. QP's joint venture companies, Qatargas and RasGas, have a combined LNG production capacity of 77 million tonnes per annum (mta), making Qatar the world's largest producer and exporter of LNG.

H.E. Dr. Al-Sada said the agreement is an important milestone in Qatar's gas industry. " Qatar is constantly working to facilitate the optimum development of its hydrocarbon resources, and this agreement is another step in that direction," said H.E. Dr. Al-Sada. "Developing more efficient technologies to remove contaminants from natural gas will help boost Qatar's reputation as a safe, reliable supplier of natural gas as well as high-quality products."

Dr. Gautam said, "Global natural gas demand is growing rapidly and LNG production is critical to meeting the needs of regions not served by pipelines and to enable global trade. Qatar Petroleum is a recognized leader in the production of LNG for world markets, and we look forward to extending our long-standing partnership to develop technology in this important field." 

Stock quotes in this article: HON 

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