The Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada (centre) at the 8th LPG Trade Summit at St Regis Hotel in Doha yesterday. Shaival Dalal
DOHA: With the commissioning of QR37.5bn Barzan Gas Project in 2014, Qatar will produce an additional 500,000 tonnes of Liquefied Petroleum Gas (LPG) per annum, Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada announced during his keynote address at the opening of the 8th LPG Trade Summit here yesterday.
Qatar is one of the largest exporters of LPG in the world with a total export volume of about 11 million tonnes per year.
The three-day event, held under the patronage of Dr Al Sada, is supported by Qatar Petroleum (QP) as the platinum sponsor and is hosted by Qatar International Petroleum Marketing Company Ltd (Tasweeq).
The Summit will provide an opportunity for participants to discuss latest developments in the global and regional markets for LPG, the challenges facing the industry, as well as its prospects for the future.
The event, which will conclude on November 20, brings together LPG producers, exporters, importers, distributors and industry professionals from many countries worldwide.
Al Sada offered an overview of global developments shaping the natural gas industry and influencing supply and demand in various regions.
He also highlighted some of the challenges facing the LPG industry, such as the current outlook for the growth of LPG demand in developing markets, and whether the growth in supply is enough to support projected growth in regional and global LPG demand.
He said that efforts to consolidate Qatar’s position as a competitive energy supplier continue to be unabated.
“As a dedicated global supplier of energy, the State of Qatar is proud to be a pioneer and a leader in the gas industry. Qatar is the world leader in LNG, producing 77 million tonnes per year. And with our two world scale gas-to-liquids plants, we have emerged as the ‘gas-to-liquids’ capital of the world,” he added.
The inauguration ceremony was attended by senior QP officials and top management of oil and gas companies. It also featured a plenary session involving Saad Abdullah Al Kuwari, CEO of Tasweeq, Ian Taylor, President and CEO of the Vitol Group, and Michael F Conway, President of Shell International Trading & Shipping Co Ltd (STASCO).
Last held in Doha in 2009, the eighth edition of the summit is organised by the Centre for Management Technology (CMT), which is based in Singapore.
Among the major topics to be discussed during the event are the market dynamics of the global LPG supply and demand, the LPG shipping market and freight rates, the role of LPG as petrochemical feedstock, the Panama Canal expansion and its impact on LPG trading, as well as the global markets for natural gas liquids (NGL).
The final day of the event on November 20 will feature an interactive workshop focusing on LPG trading, pricing and shipping.
Other supporters of the event are Woqod, Qatar Shell, Qatargas, Muntajat, Bayegan, QPI and Nakilat. The Peninsula
