Oil and gas
Last Updated :
07 July 2010
The rapid economic development of Qatar has been largely driven by oil and gas revenues. Over half of the Government's $130 billion committed to investment across Qatar's economy over the next few years will be spent on further developing the oil and gas sector, and in particular liquid natural gas production and export facilities. But a wide range of other economic sectors will also benefit.
The Government's aim is to make Qatar the world's leading producer of liquid natural gas by 2010, and to help this end and further enhance Qatar's economic development the Qatar Financial Centre (QFC) attracts international finance and related companies to provide corporate finance, venture capital, project finance, private equity, wealth management, insurance and re-insurance, investment banking and Islamic banking and other investment strategy and investment management services.
Numerous large-scale liquid natural gas projects are in currently in progress and nearing completion in Qatar, such as the Oryx, QatarGas 3 and QatarGas 4 liquid natural gas production facilities. There is also a large-scale expansion of the liquid natural gas shipping fleet, helping Qatar to realise its investment strategy of optimizing the total liquid natural gas value chain to its customers around the world.
In line with its plans to be a leading global force in the field of oil and gas, Qatar will soon establish an International Mercantile Exchange dedicated to energy trading. The proposed International Mercantile Exchange is to be based in the Energy City development which is currently under construction.
A memorandum of understanding to pave the way to set up the International Mercantile Exchange has been signed between Gulf Energy and the Qatar Financial Centre Authority (QFCA). The International Mercantile Exchange will be a new generation of exchange, featuring some of the most advanced oil and gas trading platforms in the world. The Qatar Financial Centre Regulatory Authority (QFCRA) is to provide the regulatory framework for the International Mercantile Exchange.
Undoubtedly international finance companies located within the Qatar Financial Centre (QFC) will be ideally positioned to be involved with these exciting developments in the oil and gas as well as other sectors over the next few years.