Shell invested $ 20 bn in Qatar over past 5 years

Jan 04, 2012 12:00 AM

Royal Dutch Shell Chief Executive Officer Peter Voser has revealed that the volume of Royal Dutch Shell company's investments in the State of Qatar amounted to $ 20 bn over the past five years.
The Chief Executive of the Shell said he feels proud of the strategic partnership the company achieved in Qatar, where it cooperated with Qatar Petroleum to build the largest energy project in the world in Ras Laffan Industrial City, a project of the Pearl GTL and the production line QatarGas 4 LNG.

Addressing the second plenary session of the 20th World Petroleum Congress (WPC) held under the title "The role of Qatar in the future energy scene'' convened in the framework of such a WPC, Voser said the climate in Qtar is encouraging for investment and has contributed to urging the Shell company to launch such a project, which is characterized by the provision of a fuel-friendly environment, in addition to providing new opportunities for natural gas applications that will in turn contribute to the diversification of the energy mix and securing supply, stressing that this is an example set for the steps adopted to meet the price fluctuations.
He noted in the same context, that the State of Qatar has become a leading country in the natural gas industry, pointing to its historic accomplishment with its production amounting to 77 mm tpy of natural gas (LNG) in a record time thanks to the wise leadership of His Highness the Emir Sheikh Hamad bin Khalifa Al Thani.

He stressed the importance of the partnership between Shell and Qatar in the region to ensure the response to the growing global demand for energy and achieving sustainable development, stressing in the meantime that one of the most important objectives in common with the governments is to reduce the volatility in commodity prices, and the need to adhere to the principles of supply and demand in order to alleviate the pressure.
In this context, Voser, underlined the importance of establishing a constructive dialogue between the energy producers and consumers in order to guarantee the energy supplies to the world and being made available to consumers in a safe manner, affirming however the commitment of Shell to the establishment of new projects to secure the growing global demand for energy to ensure the protection of the interests of both the producers and the consumers alike.

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