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Shell’s $20bn investment is a show of confidence

Wednesday 7/12/2011 December

Royal Dutch Shell has spent $20bn in Qatar in the last five years, which is a real reflection of the country’s business climate, said executive officer Peter Voser.

“We feel confident to make such large commitments here in Qatar because of this nation’s business climate,” he said in his remarks at a session at the 20th World Petroleum Congress here yesterday.

Qatar, he said, achieved “several milestones” in the energy industry in a “record time”. “Just last year, Qatar celebrated 77mn tonnes LNG (liquefied natural gas) production capacity and fulfilled its vision of becoming the LNG gas capital of the world.

“Qatar’s milestones include the world’s largest liquefied natural gas trains and tankers. We played a role in these achievements as a shareholder in Qatargas 4 and also as provider of operations and maintenance services to the Nakilat LNG fleet.”

“Thus we got engaged in bringing technology and knowledge into the country,” Voser said.

Recently, Qatar embraced its vision to be the world’s leader in gas-to-liquids technology by inaugurating the world’s largest Pearl GTL project in Ras Laffan, a Qatar-Shell joint venture.

“Pearl GTL provides new ways to Qatar to derive higher values from its abundant gas resources through high quality fuels and related products,” Voser said.

Shell has also signed a heads of agreement with Qatar Petroleum to develop a petrochemical complex in Qatar Petroleum.

The $6.4bn plant, which will have a capacity of 1.5mn tonnes a year of mono-ethylene glycol and 300 tonnes of linear alpha olefins, would primarily market the products into fast-growing Asian markets.

“This agreement consolidates strong partnership with QP across the full value chain of hydrocarbon development. Besides supplying the world with the much needed products and creating jobs, it will also diversify Qatar’s industrial base in line with Qatar National Vision 2030,” Voser said.

“All these achievements have become possible here in Qatar because of HH the Emir’s visionary leadership,” Voser said. – Pratap John

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