RAS LAFFAN // Qatar's possession of vast gas reserves is boosting the emirate's hopes of delivering a memorable and problem-free World Cup when, in 2022, it becomes the first Arab nation to host football's premier event.
"A few stadiums here and there, this is not a problem. We are the only state in the GCC with a surplus of power," said Abdullah al Attiyah, the deputy premier and energy minister of the emirate.
"We are very proud that Qatar has strong infrastructure- and we have already about 14 or 15 stadiums," he said.
This is just one example of the emirate's plans to leverage its resource base, which includes about a 64 per cent share of the world's biggest gasfield, to its advantage.
By expanding its natural gas liquefaction and export capacity to a globally dominant position, Qatar has established a base for realising the long-term economic and social vision of its government, said Dr Ibrahim Ibrahim, the government's chief economic adviser.
"We will think of other projects that will use the skills we have already developed with our partners in the oil and gas industry," he said yesterday at Ras Laffan Industrial City. "The new goal will be sustainable development. We have to talk about diversification and we have to talk about a knowledge-based economy."
Mr al Attiyah said Qatar would not build more natural gas liquefaction plants in the foreseeable future, although it might revamp and unclog existing facilities to increase production capacity further.
"For our next celebration, it will not only be gas plants but also petrochemicals and other projects," he said.
Some of Qatar's partners in existing projects to develop liquid fuels, fertilisers and bulk chemicals from natural gas are now positioning themselves to participate in future petrochemicals development.
Despite pulling out of two major joint ventures in the GCC last year - Abu Dhabi's Shah sour gas project and an oil refining complex in Saudi Arabia - ConocoPhillips, the third biggest US oil and gas company, hopes to keep a foot in the Gulf by pursuing investment opportunities in Qatar.
"Qatar is a high priority country for ConocoPhillips," Jim Mulva, the company's chief executive, said on Sunday in the Gulf Times newspaper, based in Doha. "We have an excellent and growing relationship with Qatar."
Due to the emirate's "wonderful" supply of feedstock derived from natural gas rich in liquids, Qatar is one of the world's most cost-competitive locations for chemicals development, Mr Mulva said.
Yesterday, Mr al Attiyah refused to comment on whether Doha was in talks with any foreign petroleum companies over future projects.