Qatar spends $ 15 billion to buy liquid gas tankers
Qatar, Economics, 4/1/2005

The second envoy for the prime minister and minister of energy and industry in Qatar, Abdullah Bin Hamad al-Ateyah, sad that his country will spend $15 billion during the five coming years in order to add 70 new tankers to its fleets of liquid natural gas tankers.

He added during his current visit to Seoul, Korea, that Qatar has reservations in advance until year 2012 concerning its liquid natural gas contracts and that some 70 new tankers will be built as from now until 2010.

Al-Ateyah who also visited Japan said that expectations are good for the sales of the liquid Qatari gas in Asia. He said that China and India will play a big role in the liquid natural gas market and will import much of the produced gas. He indicated that India alone will need in the future more than 20 million tons of liquid gas annually.

Qatar owns the third largest natural gas reserve in the world following Russia and Iran. Its reserves are estimated at more than 900 trillion cubic meters. It aims to export 77 million tons of liquid gas by the fall of 2010 up from 20 million tons currently. At the meantime, Indonesia is considered the largest exporter of liquid gas. It exports of this material reached 25 million tons in 2004.

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