The U.S.' biggest energy company ExxonMobil and state-owned Qatar Petroleum are in talks to cooperate in U.S. natural gas, The Wall Street Journal reported on Tuesday.
The potential deal could have Qatar Petroleum invest in ExxonMobil’s vast shale gas resources in the U.S., which extend from West Texas to North Dakota, according to the report.
As part of the deal, a joint venture could also be formed in which Qatar partners with or invests in future wells with ExxonMobil's subsidiary XTO Energy, the report said.
Since June 2017 when Saudi Arabia and its allies have imposed economic sanctions, Qatar has been trying to find ways to increase its investments outside the Middle East.
The country also has close economic relations with ExxonMobil.
In 2009, the Golden Pass LNG import terminal was built on the Texas state's Gulf Coast, which is 70 percent owned by Qatar Petroleum and 30 percent owned by ExxonMobil.
In April 2017, the U.S. Department of Energy approved the Golden Pass terminal to export LNG.
ExxonMobil needs the financial support of Qatar to finish the $10 billion Golden Pass terminal.
Qatar is the world's largest LNG exporting country.
By Ovunc Kutlu in New York
Anadolu Agency
energy@aa.com.tr