fetching latest news

News tagged in:  

Qatar NEWS

Germany seals energy deal with Qatar in pivot from Russia
March 21, 2022
Source: Energy World

Germany seals energy deal with Qatar in pivot from Russia

Minister for Economic Affairs Robert Habeck secured the deal on a visit to Doha as part of efforts to diversify Germany's energy supply, according to his ministry.

The New Superpowers In Global LNG Markets
Jan. 20, 2022
Source: Oil Price

The New Superpowers In Global LNG Markets

The 60-year liquefied natural gas industry has a new hierarchy in place, and it's opening up new trading opportunities. For the first time ever, the United States has become the world's largest LNG exporter, establishing itself as a bona fide natural gas superpower. From a position of relative obscurity just five years ago, the U.S. LNG sector has rapidly risen through the ranks to challenge the heavyweights. U.S. liquefied natural gas (LNG) export capacity has expanded rapidly since the Lower 48 states first began exporting LNG in 2016. In 2020, the United States became the world's third-largest LNG exporter, behind Australia and Qatar.

UK's new gas saviour during supply crunch is Qatar
Dec. 4, 2021

UK's new gas saviour during supply crunch is Qatar

After gas shortages in the UK have led to soaring high prices, Qatar eyes an opportunity to strengthen ties with the UK in terms of gas supply. It is clear that Qatar sees Brexit as a chance to develop huge gas investments in the UK. The Gulf state already has $50 billion of investments in Britain and delivers 90 per cent of Britain's imports of liquefied natural gas, according to Qatar's Ministry of Energy. According to a report published by Financial Times, last month, Downing Street initiated LNG diplomacy talks with their Qatari counterparts on diverting four energy tankers to Britain.

Qatar budgeted oil price for $40 a barrel
Nov. 4, 2020
Source: worldoil.com

Qatar budgeted oil price for $40 a barrel

Qatar has decided to base its budget at an oil price of $40 a barrel. The move came as a repercussion for the impacted finances of this year. Though Qatar was able to counter the market collapse better than its neighbors still some deficit forecasts were released. The IMF has projected a gross domestic product fall of 4.5% for Qatar this year whereas Bloomberg estimated a 7.2% deficit for the same.

Industries Qatar signs a $1 billion acquisition deal with Qatar Petroleum
Aug. 25, 2020
Source: Reuters

Industries Qatar signs a $1 billion acquisition deal with Qatar Petroleum

Industries Qatar has bought 25% stake in Qatar Fertiliser Co from Qatar Petroleum’s for $1 billion, making Industries Qatar the 100% owner of the world’s largest single-site urea producer. Industries Qatar shares were up 6.9% to 10.1 riyals in early trade, trimming their till date loss to 2.2%. The deal will help Qatar Petroleum with cash to pursue investments.

Qatar Petroleum Signs World's Largest LNG Shipbuilding Order
June 2, 2020
Source: World Oil

Qatar Petroleum Signs World's Largest LNG Shipbuilding Order

Qatar has signed a deal worth around $20 billion with South Korean shipbuilders to help cement its position as the world’s largest producer of liquefied natural gas. The Gulf emirate entered into agreements with Daewoo Shipbuilding & Marine Engineering Co., Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. The three Korea-based firms will reserve a “major portion” of their LNG ship-construction capacity for QP through 2027.

Qatar faces tough choices as coronavirus guts natural gas demand
May 13, 2020
Source: WorldOil

Qatar faces tough choices as coronavirus guts natural gas demand

Struck by weak demand and depleting storage facilities, the world’s biggest exporter of LNG may soon have to: curb output or ignite a battle for market share that has the potential. Qatar began redirecting LNG cargoes away from Asia in February, where the coronavirus was shattering sales, and sending them to Europe. That quick fix didn’t last, as the pandemic left Qatar struggling for places to park unsold cargoes.

Abu Dhabi sells $7 billion worth of bonds
April 20, 2020

Abu Dhabi sells $7 billion worth of bonds

Abu Dhabi yesterday informed about selling $7 billion worth of bonds in the third major sale this month, aimed at countering declining oil prices. The transaction contained three tranches: a $2 billion five-year tranche, a $2 billion 10-year segment, and the third tranche of $3 billion aging after 30 years. Recently, Saudi Arabia raised $7 billion in a bond sale, while Qatar sold-out $10 billion worth of bonds.

Sparrows Group lands first rigging maintenance contract in Qatar
July 5, 2019
Source: World Oil

Sparrows Group lands first rigging maintenance contract in Qatar

Aberdeen-based Sparrows Group has secured its first contract to deliver rigging loft maintenance services in Qatar. Under the 4 year-contract, Sparrows will carry out the refurbishment, repair, load test and recertification of rigging lofts and contents. The company will deliver services through its newly established rigging loft management workshop within its Qatar facility.

Qatar Petroleum join hands with Chevron Phillips for petrochemical project
June 25, 2019
Source: Reuters

Qatar Petroleum join hands with Chevron Phillips for petrochemical project

State-run Qatar Petroleum has inked an agreement with Chevron Phillips Chemical to construct a new petrochemicals complex. The new petrochemical plant, which is expected to come online by 2025, will be developed in Ras Laffan Industrial City. While Chevron Phillips Chemical Co (a JV between Chevron Corp and Phillips 66) will possess a 30% interest in the complex, Qatar Petroleum will own the rest.

Qatar Petroleum signs a deal worth $2.47 billion
Feb. 19, 2019

Qatar Petroleum signs a deal worth $2.47 billion

Qatar Petroleum is planning to reduce its dependency on imports and increase its domestic production. In order to fuel up its local energy industry, the firm has signed a preliminary deal with Schlumberger and Baker Hughes worth $2.47 billion on Monday. The initial agreement will involve investment in production facilities, training and development. Qatar is strategizing to boost its LNG production by 43% by 2023-24.

Nakilat forms joint venture with McDermott
Feb. 19, 2019
Source: The Peninsula

Nakilat forms joint venture with McDermott

Qatar-based Nakilat has entered into an agreement with EPC giant, McDermott to form a joint venture, which will provide onshore and offshore fabrication services in Qatar. The formation of the joint venture is in line with Qatar’s recent localisation program, which aims at enhancing the resilience of the energy sector’s supply chain. The strategic partnership will boost productivity levels at Nakilat’s world-class Erhama Bin Jaber Al Jalahma Shipyard.

Turkey begins world’s biggest ship-to-ship LNG transfer
Jan. 3, 2019
Source: Anadolu Agency

Turkey begins world’s biggest ship-to-ship LNG transfer

The world's biggest ship-to-ship LNG transfers began yesterday in Turkey’s Mehmet Tecimen. The LNG transfer is between BOTAS's Floating Storage Regasification Unit (FSRU) and Al Sadd vessel, which brought LNG from Qatar. In a press briefing, oil utilities regional director of BOTAS said that the entire LNG transfer procedure will take two days.

Qatar to quit OPEC in 2019
Dec. 3, 2018
Source: ALJAZEERA

Qatar to quit OPEC in 2019

Gulf nation, Qatar has announced withdrawal from the cartel of oil producing nations, OPEC. The announcement came from Qatar’s Energy Minister who said that Doha wants to concentrate on the production of natural gas in the upcoming years. Qatar is currently the world's biggest LNG supplier. With this decision, Qatar will become the first Gulf country to leave the bloc of 15 oil-producing countries.

Qatargas signs SPA with PetroChina
Sept. 10, 2018

Qatargas signs SPA with PetroChina

World’s biggest LNG firm, Qatargas today entered into a 22-year long sale and purchase agreement (SPA) with PetroChina’s international arm, PetroChina International Company Limited. The agreement requires Qatargas to supply China with around 3.4 million tonnes of liquefied natural gas (LNG) per annum. LNG will be supplied from the the Qatargas 2 project, which is a joint venture between ExxonMobil, Qatar Petroleum and Total.

Qatar targets improved future oil supplies
Sept. 7, 2018

Qatar targets improved future oil supplies

With the significant improvement in oil prices, the Energy Minister of Qatar has demanded all the oil-producing countries to increase their investment in the oil and gas sector. Foreseeing the impact of inadequate investment, he said that now is the time to ensure secure oil supplies. According to the minister, setting particular targets can hamper the market growth and hence, he is not in favour of this idea.

Saipem awards contract to Balltec
Aug. 11, 2018

Saipem awards contract to Balltec

Saipem has awarded the contract for supplying two sheave connection points (SCPs) for Dolphin Energy’s emergency pipeline repair system (EPRS) to UK-based Balltec. Under the Dolphin project, natural gas is transported from North Field of Qatar for processing at EPRS’ offshore processing plant at Ras Laffan. The gas is then transported to Taweelah, UAE via export subsea pipeline.

The first U.S. shale gas cargo to arrive in Middle East
May 14, 2018
Source: World Oil

The first U.S. shale gas cargo to arrive in Middle East

Israel will receive a cargo of U.S. shale gas. Since exports began in 2016, it is the first to arrive in the Middle Eastern nation from America’s shores. The vessel is called British Diamond and is beneficially owned by BP Plc. America is poised to compete with Qatar and Australia in global LNG dominance in the times to come.

Please Login to Save News for Later