Energy City set for Qatar

A consortium of investors and energy consultants have announced plans for the US $1.6 billion first phase of Energy City in Qatar. The project aims to enhance the region’s ability to capture critical revenue streams from hydrocarbons, and act as a nucleus for the core elements of the Middle East’s oil and gas industry.

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By  Sean Cronin Published  October 22, 2005

A consortium of investors and energy consultants have announced plans for the US $1.6 billion first phase of Energy City in Qatar. The project aims to enhance the region’s ability to capture critical revenue streams from hydrocarbons, and act as a nucleus for the core elements of the Middle East’s oil and gas industry. The Gulf Energy consortium has appointed Bahrain-based Islamic investment bank, Gulf Finance House (GFH), as the lead financial advisor for the project. GFH chief executive Esam Janahi, said: “The year saw the energy sector registering the strongest global primary energy consumption since 1984. The surge in consumption of all fuels has recorded growth rates above 10-year averages, in turn pushing prices of oil, natural gas and coal to record levels.” The proposed clusters will include an intellectual and technology centre; education and training centre; shipping and trading centre; oil and gas producers centre; and an information, press and associations centre.

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