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Qatar to supply Taiwan with three mln tons of LNG annually
Power & Materials    9/21/2008 10:19:00 PM
 
DOHA, Sept 21 (KUNA) -- Qatar Petroleum will provide Taiwan's state-owned CBC Corporation with three million tons of liquefied natural gas (LNG) per year, according to a deal signed on Sunday by the two sides.
Announcing the deal in a press conference here, Qatari Deputy Prime Minister and Minister of Energy and Industry Abdallah Bin Hamad Al-Atiyah said his country attributed great importance to the Taiwanese market.
Taiwan is one of the key destinations of Qatar's fuel exports in Asia, Al-Atiyah underscored.
Qatar is the main provider of LNG to Asian economies including China, India, South Korea, Japan and Taiwan, he pointed out.
Qatar's gas output is expected to top 77 million tons a year, he said, noting that all the quantities have already been sold and needed no marketing.
Regarding the recent OPEC meeting in Vienna, Austria, Al-Atiyah said the meeting did not curtail oil production of the global cartel; it rather reaffirmed commitment to the production ceiling decided n September, 2007.
The meeting urged the OPEC members to abide by their quotas after they exceeded the ceiling by 500,000 barrels of crude oil a day, he explained.
Al-Atiyah attributed the recent slump of oil prices to the turbulence of the global economy and the U.S. financial crisis.
The instability of the global economic growth and the U.S. economy triggered collapse of major financial firms and great losses to the world's stock markets, he noted.
Qatar Petroleum aims to maximize its contribution to the national wealth of the State of Qatar, through the safe, efficient and environmentally acceptable exploitation of Qatar's hydrocarbon reserves and through related activities. (end) ma.gb KUNA 212219 Sep 08NNNN
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