Qatar, France's Total and ExxonMobil signed a deal for the Qatargas-2 LNG export project which targets the North American and European markets.

The agreement was the second Qatar has signed in two days and cemented the Gulf state's role as one of world's top LNG exporters.
Total will invest $3.5 billion in the deal, including $1 billion for its 16.7 per cent stake in the second production unit at Qatargas-2, Total executives said.
Under the agreement, the French company will buy up to 5.2 million tonnes per year (tpy) of LNG from the project for 25 years.
"The execution of this agreement...is another important step in the fulfilment of Total's continuing objective to grow its LNG portfolio," said Total CEO Thierry Desmarest.
The second Qatargas-2 train is due to start about six months after the first, some time in 2008. Each Qatargas-2 train will have a capacity of 7.8 million tpy.
The second train will be owned by Qatar Petroleum with 65 per cent while ExxonMobil will hold 18.3 per cent and Total 16.7 per cent.
Output from the second train will be split equally between the UK, France and and the United States, Desmarest said.
Total is one of the founding investors in Qatargas and is also active in Qatar's oil and petrochemicals sector.
Qatar earlier signed a $6-$7 billion deal with Anglo-Dutch major Royal Dutch/Shell to ship LNG to North America and Europe.
Meanwhile, Endesa received its first LNG shipment from Qatar's Ras Laffan Liquefied Natural Gas Company II as part of its efforts to diversify supply sources and to expand market share in Spain and Portugal, the Spanish company said.
RasGas II delivered the LNG to the Spanish port of Cartegena on the Maersk Ras Laffan ship. Endesa and RasGas II in 2003 signed a 20-year sales and purchase agreement for the supply of 800,000 tonnes per year (tpy) of LNG starting in 2005, an amount representing four per cent of Spanish gas consumption in 2004, the company said.
RasGas II is responsible for the transportation of the gas from Qatar to Spain on board its 138,000-tonne capacity LNG tankers. The gas originates from Qatar's giant North Field. Endesa's supply agreement with RasGas II is part of the company's strategy of diversifying its supply sources, initiated with its first gas supply agreements in 1998.