This excerpt taken from the COP 10-K filed Feb 27, 2006.
In December 2003, we signed a Statement of Intent with Qatar Petroleum regarding the construction of a gas-to-liquids (GTL) plant in Ras Laffan, Qatar. Preliminary engineering and design studies have been completed. In April 2005, the Qatar Minister of Petroleum stated that there would be a postponement of new GTL projects in order to further study impacts on infrastructure, shipping and contractors, and to ensure that the development of its gas resources occurs at a sustainable rate. Work continues with the Qatar authorities on the appropriate timing of the project to meet the objectives of Qatar and ConocoPhillips.