Gas-rich Qatar to invest 75 billion dollars by 2012

DOHA, Jan 12 (AFP) - Gas-rich Qatar plans to invest 75 billion dollars on a string of massive projects by 2012, Energy and Industry Minister Minister Abdullah bin Hamad al-Attiya announced Wednesday.
"The planned investments up until 2012 amount to 75 billion dollars. Among these projects is one by Qatargas with a price tag of 13 billion dollars," he said on the sidelines of an economic conference in Doha.
"Most of the projects are linked to the oil and gas sectors, but they form part of the state strategy to diversify sources of revenue," said Attiya.
The minister said Qatargas would make the country the world's largest exporter of liquefied natural gas, with production rising to more than 88 million tonnes in 2012 from a projected 20 million this year.
In mid-December, Attiyah said Qatar had struck a 12-billion-dollar accord with ExxonMobil to supply LNG to Britain by 2007, in what he called "the biggest deal" in the history of the hydrocarbon industry.

01/12/2005 17:15 GMT - AFP