Doha – Mubasher: Qatar Petroleum and Centrica Plc are planning to sell their natural gas joint venture in Canada amid declining prices, Bloomberg cited people familiar with the process as saying on Thursday.
The companies expect to get less than the C$1.2 billion ($880 million) they’ve put into the venture since 2013, said the people, who asked not to be identified because the deliberations are private.
The state-run Qatar Petroleum three year ago reached an agreement with Centrica, under which it acquired 40% of the latter's projects in Canada's natural gas fields.
The drop in oil and natural gas prices prompted global oil producers to cut costs through divesting some of their owned assets.
