Qatar emerges as a new king in LNG
Call it by any name, oil is one thing that makes headlines and tops the agenda in any global forum. From G2 to G12, all Gs and non-Gs are concerned about their fuel efficiency. However with crude oil prices jumping the bungee gun with every passing quarter, Hamad bin Khalifa, Emir of Qatar found a route as innovative as could be praised in ivy league b-schools.
When Qatar discovered huge reserves of Liquefied Natural Gas, the western economies did not give it a second thought. Qatar had no gas transport lines to export the gas to other countries. They didn’t bargain for the Emir, did they? Bin Khalifa worked out the most brilliant arrangement to transport Qatar’s gas in, surprise surprise, ships! From an initial start to today, with Russia’s fleet of 10 LNG vessels (capacity of 135,000 cubic meters each), Qatar is able to supply LNG to almost all Asian, European and even American countries. It’s status in the global gas industry? Bin Khalifa has made Qatar the world’s largest producer, with 31.7 million tonnes produced in 2007!
Call it by any name, oil is one thing that makes headlines and tops the agenda in any global forum. From G2 to G12, all Gs and non-Gs are concerned about their fuel efficiency. However with crude oil prices jumping the bungee gun with every passing quarter, Hamad bin Khalifa, Emir of Qatar found a route as innovative as could be praised in ivy league b-schools.
When Qatar discovered huge reserves of Liquefied Natural Gas, the western economies did not give it a second thought. Qatar had no gas transport lines to export the gas to other countries. They didn’t bargain for the Emir, did they? Bin Khalifa worked out the most brilliant arrangement to transport Qatar’s gas in, surprise surprise, ships! From an initial start to today, with Russia’s fleet of 10 LNG vessels (capacity of 135,000 cubic meters each), Qatar is able to supply LNG to almost all Asian, European and even American countries. It’s status in the global gas industry? Bin Khalifa has made Qatar the world’s largest producer, with 31.7 million tonnes produced in 2007!
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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