Wednesday 20 October 2010

Qatar drops huge Greek energy project - Maktoob Business

Qatar has dropped plans to build a 3.5 billion euro ($4.82 billion) energy hub in Greece, a Greek official said on Wednesday, a setback for Greek hopes to receive up to $5 billion in investment from the cash-rich Arab emirate.

"The two Qatari companies involved, Qatar Petroleum and the Qatar Investment Authority could not agree with their Greek partners on the viability of the project," deputy foreign minister Spyros Kouvelis told Flash radio.

The two countries signed in May a non-binding memorandum to explore the possibility of building a complex of LNG terminals and a power station to export electricity to Italy.

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