RasGas Company Limited was formed by Qatar Petroleum and ExxonMobil in 2001 to assume responsibility for operating the entities on the RasGas site at Ras Laffan. These currently are Ras Laffan Liquefied Natural Gas Company Limited "RL", Ras Laffan Liquefied Natural Gas Company Limited (II) "RL (II)", Ras Laffan Liquefied Natural Gas Company Limited (3), "RL (3)" and Al Khaleej Gas "AKG".  The Company is also developing a Helium facility as a joint venture with Qatargas which will commence operations in 2005.

RL was formed in 1993 by Qatar Petroleum and ExxonMobil and the shareholders include Koras, Itochu and LNG Japan. The Company commenced operations in 2000 and owns RasGas Trains 1 and 2 which together are capable of producing 6.6 million tonnes of LNG per year (mmtpa) together with 45,000 barrels of condensate per day. Under a long-term sales contract, 4.9 mmtpa of LNG is sold to Korea and the balance of the production is sold to customers inAsia, Europe and the USA.

RL (II) was formed in 2001 by Qatar Petroleum and ExxonMobil and owns RasGas Train 3 which commenced LNG production in 2004 and RasGas Train 4 which commenced production in 2005.  Both of these Trains are capable of producing 4.7 mmtpa and will be followed into production in 2007 by RasGas Train 5, which will also be capable of producing 4.7 mmtpa of LNG.  These three trains will supply LNG to Petronet of India, Edison of Italy, Endesa of Spain, Distrigas of Belgium, Fluxys of Belgium, and CPC of Taiwan; all under long-term sales agreements.  RL (II) will also produce significant volumes of condensate and LPG for sale on world markets.

RL (3) was formed in 2005 by QP and ExxonMobil, and is constructing RasGas Train 6 and RasGas Train 7 which are capable of producing 7.8 mmtpa each.  This LNG will be sold under a long-term contract into the USA with first deliveries scheduled in 2008.  RL (3) will also produce significant volumes of condensate and LPG for sale on world markets.

AKG is operated by RasGas behalf of ExxonMobil and will supply gas to local customers and will also produce LPG and condensate. Operations are scheduled to commence in late 2005.

In 2004 Shell and Qatar Petroleum (QP) signed a Development and Production Sharing Agreement that provides for the fiscal and legal terms for the world-scale 'Pearl GTL' project in Ras Laffan City (RLC), Qatar. The project comprises the development of upstream gas production facilities as well as an onshore GTL plant that will produce 140,000 barrels per day of GTL products along with significant quantities of associated condensate and liquefied petroleum gas. This will be the largest and most complex single project ever embarked upon inQatar. Once completed, Pearl GTL will also be the largest GTL project in the world. In addition to this, in February 2005 Shell signed a Heads of Agreement with QP for the development of the large-scale Qatargas 4 LNG project; a Letter of Intent with QP for the development of a world-scale ethane based petrochemical cracker and derivatives complex; and a commercial agreement with Qatar Foundation (QF) for a 10-year lease in QF's Science and Technology Park where Shell will implement a world-class technology programme.