Qatar will supply another 2mn tonnes of liquefied natural gas annually to South Korea for 20 years, boosting supplies to the South East Asian country, which is among Qatar’s first LNG customers.
RasGas yesterday signed a long-term sale and purchase agreement (SPA) with Kogas under which Ras Laffan Liquefied Natural Gas Company Limited (3) -RL 3 would deliver 2mn tonnes per year (tpy) of Qatari LNG for 20 years starting in 2013, in addition to incremental medium-term volumes from 2012 to 2016. Continue reading →

GCC states would invest close to $100bn for infrastructure development and explore new ways to ensure uninterrupted supply of drinking water to its residents in the next five years, Qatar’s Minister of Energy and Industry HE Dr Mohamed Saleh al-Sada said yesterday.
The Qatar minister said this while delivering the keynote address at the opening of the Power-Gen Middle East Conference at the Qatar National Convention Centre. The exhibition and conference is being held in Qatar for the second time. Continue reading →

Milaha (formerly Qatar Navigation) has said its fully-owned subsidiary, Qatar Shipping Company, will purchase additional stakes from Maersk in two LNG carriers.
Qatar Shipping has entered into an agreement to buy Maersk LNG’s 15% stake (out of their total holding of 26%) in two LNG Carriers, Maersk Ras Laffan and Maersk Qatar. With this, the stake of Milaha subsidiary in these two carriers will increase to 40%.
However, Milaha, which accounts for 5% of Qatar Exchange’s 20-stock index, did not disclose the size of the deal.
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A team of UN nuclear experts on Monday began a review of tests conducted by Japan to prove the safety of its nuclear reactors in the wake of the Fukushimaradiation crisis.The Vienna-based International Atomic Agency’s (IAEA) team of 10 experts will be in Japan until 31 January.

“We are conducting a review that they [the Japanese government] requested of their methodology and approach for conducting comprehensive safety assessments or stress tests,” James Lyons, the leader of the IAEA team, told reporters. Continue reading →

Chevron filed an appeal with Ecuador’s National Court to review a ruling that it must pay billions of dollars in damages for oil pollution in the Amazon rain forest.

In addition to the $8.6 billion ruling, the court said that Chevron must publicly apologize to Ecuador, and if it fails to do so, the fine will be doubled to nearly $18 billion. Continue reading →

Iran has said an oil embargo adopted by European Union foreign ministers over the country’s nuclear programme is “unfair” and “doomed to fail”.

The measures would not prevent Iran’s “progress for achieving its basic rights”, foreign ministry spokesman Ramin Mehmanparast said.

The sanctions ban all new oil contracts with Iran and freeze the assets of Iran’s central bank in the EU. Continue reading →

That’s a 5% jump over the previous year and five times the investment made in 2004, said Bloomberg New Energy Finance, a market research firm based in London.

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QP has launched the energy and industry sector’s first-ever “Sustainable Development Industry (SDI) report” for Qatar, which covers the various sustainability initiatives and projects undertaken by stakeholders operating in the country. Continue reading →

The Shard of Glass skyscraper in London, majority owned by Qatar, has become the tallest building in Europe, rising higher than Canary Wharf’s main tower, Frankfurt’s Commerzbank and the Ostankino television tower in Moscow.

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Qatar and Saudi Arabia have been tipped to consume some 50% of the GCC region’s building materials over the next decade or so, according to analyst Frost & Sullivan.

Both countries have “ramped up” construction activities due to the growth in economic activities in Saudi Arabia and the run-up towards the FIFA World Cup 2022 in Qatar.

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