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MOBIL AND QATAR SIGN LIQUEFIED NATURAL GAS AGREEMENT

 MOBIL AND QATAR SIGN LIQUEFIED NATURAL GAS AGREEMENT
 FAIRFAX, Va., Aug. 27 /PRNewswire/ -- Qatar General Petroleum


Corporation ("QGPC") and Mobil Corporation (NYSE: MOB) announced today that they have signed heads of agreement relating to Mobil's participation in Qatar's liquefied natural gas (LNG) projects.
 Under the agreement, Mobil would have a 10 percent interest in the Qatargas LNG project of 6 million tons of LNG a year and 30 percent in a new joint venture company which would produce over 10 million tons of LNG a year. Final detailed agreements are to follow.
 The LNG projects would be located at Ras Laffan, a new industrial complex for Qatar's North Field. The Qatargas project will be starting LNG deliveries to the Chubu Electric Power Company in Japan early in 1997.
 Issa Ghanim Al-Kawari, Qatar's Minister for Diwan Amiri Affairs and acting chairman of Qatargas, welcomed Mobil's involvement in QGPC's plans to utilize Qatar's huge North Field gas reserves, and expressed great confidence in Qatar's future role as a significant supplier of clean energy to consumer markets.
 Mobil Chairman Allen E. Murray said, "Mobil will be pleased to take part in Qatar's development of this very important resource for world markets. This agreement acknowledges Mobil's experience and technical expertise in natural gas development and LNG processing as well as Mobil's marketing strength. This should produce important long-term mutual benefits to Qatar as well as Mobil."
 -0- 8/27/92
 /CONTACT: John Lord of Mobil, 703-846-2500/
 (MOB) CO: Mobil Corporation; Qatar General Petroleum Corporation ST: Virginia IN: OIL SU:


GK -- NY050 -- 3969 08/27/92 13:23 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
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