Thinking About Joint Venture Agreements as the Result of a Decision-Making Process
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Qatar holds the third-largest natural gas reserves in the world following Russia and Iran. Virtually, all of its proven reserves are located in the North Field, the largest non-associated natural gas (i.e. free-standing gas that is not mixed up with crude oil) field in the world. Until 2018, the Qatari gas industry was led by two operating companies—Qatargas and Rasgas (now merged as Qatargas)—each was a joint venture company consisting of the Qatari state-owned petroleum company, Qatar Petroleum, as the local partner and international oil companies, as the foreign partner.