Qatar plays both sides of LNG power market

Qatar plays both sides of LNG power market:

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Qatar is making a renewed push to invest in electric power.

Photograph by: PATRICK BAZ , AFP/GettyImages

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Qatar’s acquisition of a 25 per cent stake in Greece’s Heron II power plant “kicks off” a drive by the world’s biggest exporter of liquefied natural gas to invest in electric power abroad, the country’s energy minister said.

“The power sector is growing steadily worldwide,” Mohammed Saleh Al Sada said at a press conference in Doha late yesterday. “We have already built capacity internally here in Qatar, but we are interested in extending our investment elsewhere.”

The push to invest in power production abroad will last for the “coming few years,” he said, after state-controlled Qatar Petroleum International Ltd., called QPI, signed the agreement yesterday with GEK Terna SA securing its stake in Heron II. The deal came two months after Qatar created Nebras Power, a $1 billion fund that will invest in water and power assets abroad. The Heron II purchase was made by QPI because negotiations started before Nebras was created, Al Sada said."

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