Qatar rolls out $52 billion in oil, gas projects

Monday, November 15, 2004

ABU DHABI Qatar is preparing to launch $52 billion worth of projects by 2007.

Most of the projects were expected to be in the field of crude oil and natural gas development. So far, Qatar has approved $6 billion in projects, Middle East Newsline reported.

Meed projects' group sales manager Alan England said the projects approved by Qatar were deemed as the largest in any Gulf Cooperation Council state. England told the Doha-based Gulf Times that Qatar was second to Saudi Arabia in the number of energy projects.

Riyad has already budgeted projects worth $53.6 billion. In third place was the United Arab Emirates, with $47 billion worth of projects.

Meed Projects, a new initiative by the Middle East Economic Digest, has sought to track projects in excess of $50 million in GCC states as well as Iran and Iraq. So far, Meeds has tracked 1,000 projects in the Middle East, half of which in the Gulf region.

Copyright 2004 East West Services, Inc.

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