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          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

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            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                UAE sends medical aid to Iraq to fight COVID-19

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                UAE launches phase III trial of inactivated Covid vaccine

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                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Qatar: Expanding energy horizons

              Oxford Business Group

              June 10, 2013
              in Oil & Gas, Power & Electricity
              0

              The world’s largest exporter of liquefied natural gas (LNG) is spreading its wings into energy ventures far from the vast reserves on its own doorstep. Qatar is investing in shale-related projects in North America and elsewhere to help maintain its position as one of the top players in the global gas market.

              On May 9 state-owned Qatar Petroleum International (QPI) and ExxonMobil unveiled plans to develop a $10bn export terminal at Golden Pass in Texas. The facility was originally designed as an import and regasification facility to land some of the take from Qatar’s fields, but events have overtaken its initial purpose.

              Indeed, the US is set to become one of the world’s largest exporters of LNG by 2020, ratings agency Moody’s said in a report released in early May. The first US-based export terminal, Cheniere Energy’s Sabine Pass facility in western Louisiana, is expected to come on-line in 2015.

              To ensure the Golden Pass terminal has ample supplies of raw material on tap, QPI and ExxonMobil announced in mid-April they had signed a memorandum of understanding to work together on projects to explore and develop unconventional gas resources in North America and to cooperate on other LNG opportunities around the world. Qatar brings to the partnership immense experience of LNG production.

              One of the main markets for exports from Golden Pass will be the UK, with the two partners already having a regasification facility at Milford Haven in southern Wales. Domestic reserves from Britain’s North Sea fields are dwindling, with the country becoming increasingly reliant on imports to make up for the shortfall.

              However, a large amount of US LNG exports are expected to head to Asia. The Panama Canal is undergoing a $5.25bn expansion that will treble the waterway’s capacity and allow the largest gas tankers currently operating to make the passage, shortening the route between US processing plants on the Gulf of Mexico and Pacific rim markets.

              Already, some of Qatar’s Asian clients, including Osaka Gas and Chubu Electric Power Company of Japan and South Korea’s Korea Gas Corporation, have inked import agreements with US producers.

              The QPI-ExxonMobil exploration tie-up came hard on the heels of the Qatari firm’s announcement of a partnership with British company Centrica to acquire the conventional natural gas assets of Canada’s Suncor Energy in a $1bn deal. The agreement, which is expected to be closed in the second half of the year pending approval of the Canadian energy sector regulator, would give QPI and Centrica access to just under 27.75bn cu meters of reserves from fields in three provinces.

              In a research note issued on April 15, Andrew Potter, an analyst at CIBC World Markets, said the deal was another step in Qatar’s program of broadening its energy horizons: “For Qatar, the motivation is a diversification strategy outside of its traditional core region.”

              According to Noel Tomnay, the head of global gas research at Scottish consultancy Wood Mackenzie, buying into the US and Canadian gas sectors would allow Qatar to play a greater role in the international gas industry along the entirety of the production chain, as well as maximize the benefits on its existing investments, such as its underutilized regasification plant in the UK.

              “The bolstering of Europe’s, and specifically the UK’s, energy supply security through the facilitation of LNG exports from the US, combined with Qatari energy investment in North America, would strengthen Qatar’s geopolitical hand,” Tomnay said in a statement issued to coincide with a report from Wood Mackenzie issued just days before the QPI exploration and development tie up with ExxonMobil.

              The report went on to say that, by limiting new projects to increase LNG capacity at home and shifting its investment focus overseas, Qatar was moving to protect the value of existing contracts with importers, and to put itself in a position of strength when the time comes to renegotiate these agreements.

              By investing in US gas extraction and processing, Qatar is helping to ensure that it plays a role in the burgeoning North American energy boom. Should that boom not rattle international markets as hard as many have predicted, Qatar will still have its own strong production and export network in place.
              Oxford Business Group
              10 June

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