Washington, D.C.: On August 10th, 2020, the US-Qatar Business Council (USQBC) released its “Business Opportunity Report: Qatar’s Energy Sector” to provide essential information for American companies interested in doing business in Qatar’s energy sector. The report includes remarks from HE Mr. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President & CEO of Qatar Petroleum, in addition to key information on Qatar’s energy sector targeted for US companies.
The United States and Qatar have shared a rich history of partnership in the development and production of Qatar’s liquified natural gas (LNG) fields. Through this close collaboration, Qatar has become the number one LNG exporter worldwide in addition to being a major petrochemical producer. American companies have played a leading role in Qatar’s rise with international oil company giants like ExxonMobil, ConocoPhillips, Chevron Phillips Chemical Company (CPChem), and Excelerate Energy holding large stakes in Qatar’s energy sector. Additionally, American construction companies like Bechtel, Zachry Group, and McDermott International have also had significant engagements in Qatar in the development of critical infrastructure projects.
Qatar and the United States are expected to continue their close collaboration with the massive North Field Expansion project which will expand Qatar’s LNG production by 63% compared to current levels. Underscoring Qatar’s interest to diversify its LNG holdings and the country’s close link with the United States, Qatar Petroleum is also investing in the United States’ oil & gas sector with a recent $10 billion investment in a joint venture with ExxonMobil for the Golden Pass LNG terminal in Texas.
“Together, the United States and Qatar have become global LNG export leaders,” said Mohammed Barakat, USQBC Managing Director. “Qatar Petroleum’s ambitions coupled with the country’s Tawteen initiative will create significant investment opportunities for American investors not just in exploration and production, but throughout the entire supply chain.”
Through Qatar’s commitment to diversify its economy, create in-country value, and attract additional American investors, Qatar Petroleum has introduced a supply chain localization program for the energy sector called Tawteen. This localization program will provide hundreds of new investment opportunities and will promote the collaboration of suppliers and energy sector companies.
The US-Qatar Business Council is the premier entity to facilitate trade and investment between the two countries and provides advisory and consulting services, issues reports and publications, and hosts events to build business relationships between the two countries. USQBC is dedicated to helping its American and Qatari members expand their business and encourage foreign investment and trade.
To download a copy of the report: Click Here