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FINANCIAL NEWS
Gas projects to boost Qatar’s economic growth
11 Jul 2011
(MENAFN) ExxonMobil Qatar’s president and general manager, Alex Dodds, said that Qatar’s gas development projects would help the country generate the power needed for its infrastructural works and boosting its economic expansion, reported Arabian Business.
Dodds added that Qatar’s gas development plan would include the Barzan project, which is a joint venture between ExxonMobile Qatar and Qatar Petroleum (QP) and would produce gas starting 2014.
He also said that since Liquefied Natural Gas (LNG) would overtake coal as the main power source, Qatar’s long-term plans would be to focus operations in the worldwide LNG market, adding that demand for natural gas would likely expand by 60 percent between 2005 and 2030.
It is worth noting that ExxonMobil started its operations in Qatar in the early 1990s, and participated in 12 of Qatar’s 14 LNG trains.
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