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[29] [30] [31] In October 2023, QatarEnergy announced that it would provide 1 million tons a year of LNG from Qatar's North Field expansion project for 27 years to Eni. The long-term sale and purchase agreement will begin in 2026, where supplies will be delivered to the floating storage and regasification port unit in Piombino , Tuscany .
Location of Qatar. Qatar is a sovereign country located in Western Asia, occupying the small Qatar Peninsula on the northeastern coast of the Arabian Peninsula. Oil was discovered in Qatar in 1940, in Dukhan Field. [1] The discovery transformed the state's economy. Now, the country has a high standard of living for its legal citizens.
QatarEnergy LNG was established in 1984 as Qatargas (Qatargas Liquefied Gas Company Limited), a joint venture between QatarEnergy, ExxonMobil and other partners. In the following years the company began developing the North Field and erected the first three LNG trains (Train 1, 2 and 3) with a design capacity of 3.3 million tonnes per year each.
QIPCO Holding was founded in 1999, initially as a property developer and equity investor, in an effort to claim a stake and contribute to Qatar’s development. [1] It has investments with global companies in various sectors including real estate, construction, oil and gas, trading and advanced services, finance and joint ventures.
The bulk of Qatar's expected future increases in natural-gas production will come from projects related to the massive North Field. In 2005, Qatari government officials became worried that the North Field’s natural gas reserves were being developed too quickly, which could reduce pressure in the field's reservoirs and possibly damage its long-term production potential.
However, after facing huge cost escalation, it was reported to be $18 billion in 2007, [1] and, according to QatarEnergy sources, final project cost is expected to reach as high as $24 billion. [10] Because Shell's contract provided them with the input gas for free, the project was calculated to be viable once the price of oil exceeded $40 per ...
2 October 2023 - March 28, 2024: Expo 2023 is an International Horticultural Expo to be hosted by Doha, Qatar. 23 October: Qatar's Emir Tamim Bin Hamad Al Thani has warned the escalation of fighting in Gaza poses a threat to the region and the world. He asserted Israel should not be given a "green light for unconditional killing". [2] 8 October ...
The Qatar Investment Authority (QIA; Arabic: جهاز قطر للإستثمار) is Qatar's sovereign wealth fund. [2] The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes. In November 2024, the QIA had an estimated $526 billion of assets under management. [3]