Qatar talks ‘co-operation’ with ExxonMobil

Qatar’s Emir Tamim bin Hamad Al Thani met with ExxonMobil CEO Darren Woods on Saturday as pressure on the tiny Gulf emirate mounted following a partial blockade imposed earlier this month by powerful neighbours.

“During the meeting, they discussed bilateral cooperation relations and means to develop them in addition to the latest developments in the energy sector,” Reuters quoted the state agency QNA as reporting. QNA’s website was not accessible on Monday.

ExxonMobil, in partnership with Qatar Petroleum, has invested in 10 LNG projects including 12 of the emirate’s 14 LNG trains, and has played a major role in Qatar’s ascendance as a leading LNG exporter.

While Qatar has vowed to continue both LNG shipments and overland supplies to the UAE, worries about the disruption of supplies have sparked speculation that the crisis could speed up the liberalisation of Asian LNG markets.

The news of the ExxonMobil talks came as Saudi Arabia, the UAE, Egypt and several other countries issued an ultimatum to Qatar on Friday, demanding that it cease support for extremists, scale back its ties with Iran, shut down Al Jazeera and shutter a Turkish military base in the emirate, among a list of 13 conditions for the restoration of ties and the reopening of borders. The group cut its relations with Qatar on June 5, accusing it of sponsoring terrorism.

Experts say the standoff is likely to last for some time.

“The demands are so aggressive that it makes it close to impossible to currently see a resolution of that conflict,” Olivier Jakob of oil consultancy Petromatrix told Reuters.

On Monday, Bahrain, one of the countries boycotting Qatar, accused it of fomenting “a military escalation,” as Turkish troops continued to arrive in the country.

Qatar has dismissed the possibility of negotiating under boycott and both it and Turkey have slammed the demand that Turkish troops withdraw as an interference in their relations.