Dr.Al Ibrahim: Qatar Seeks to Diversify World Gas Markets

Doha , December 06 (QNA) - The Economic Advisor at the Emiri Diwan Ibrahim Al Ibrahim who is also the secretary general of the General Secretariat for Development Planning (GSDP) stressed Tuesday the importance of the agreement which was signed between Rasgas and Taiwanese group CBC, on the margins of the 20th World Petroleum Congress (WPC) now in session in Doha. Based on the agreement Rasgas will provide Taiwan with 1.5 million tons of LNG annually for the next 20 years, he said. In an exclusive interview with Qatar News Agency (QNA) today, Dr. Al Ibrahim said that such an agreement showed that the State of Qatar is keen on expanding its market. It also showed that the country is trying to benefit from the varying prices, he said adding meantime that there are low-priced markets such as the ones in America, and high-priced markets as in East Asia. Asked about Qatar's role in the energy field in the world, Al Ibrahim said that Qatar's plays a primary role in as the country produces 20-25%. He added that Qatar has the ability to export to all the markets in the world. Replying to a question on the current LNG prices, Dr. Al Ibrahim said that the prices are fair, referring to HH the Emir Sheikh Hamad bin Khalifa Al Thani's stress on the importance of having fair gas prices that line with the prices of oil. Asked about his expectations for gas prices in light of the Eurozone debt crisis, Dr. Al Ibrahim said that the energy prices in general will be affected of course by the expected low economic growth... the developing countries have not yet been affected by such a recession and we hope they , these developing countries, would not be affected in future'', dr.Al-Ibrahim told QNA. The Economic Advisor at the Emiri Diwan HE DR.Ibrahim Al Ibrahim who is also the secretary general of the General Secretariat for Development Planning (GSDP) further said that Qatar's energy investments reached $100 billion in the past 12 years. He added that the State of Qatar will invest more in future projects in the same field. Al Ibrahim added that hosting the 20th WPC is a success for all the Middle-East, as it presents an opportunity for other Middle-Eastern countries to host them in the future. In that context, the State of Qatar is working with Middle-Eastern energy producers in order to have the Middle-East host the congress in the future. Responding to a question on the impact of the decreasing value of the dollar on the energy field, HE Al Ibrahim said that the dollar is merely one of the aspects in the field and so it does not necessarily have an impact on the oil prices . On whether Qatar will increase LNG production in the coming period, he said that Qatar will not make any decision on its production until it receives a comprehensive study on its reserves in 2015. (QNA)