Tuesday, Nov 23, 2010
DOHA, Qatar (AFP)--Gas-rich Qatar Tuesday inaugurated the first phase of a $2.8 billion ship repair yard in partnership with Singapore's Keppel Offshore and Marine.
Qatar's Energy and Industry Minister Abdullah bin Hamad al-Attiyah said the project will be used to "repair and maintain ships for Qatar, other countries of the world, and even aircraft carriers and oil tankers."
The shipyard is a joint venture in which Qatar Gas Transport Co, also known as Nakilat, owns 80% and Keppel the other 20%.
The project aims to be completed in 2013, said Nakilat managing director Mohammed Ghannam.
It is located in the industrial area of Ras Laffan in northern Qatar, near the liquefied natural gas terminals used by QGTC which has a fleet of 54 tankers.
Qatar holds the world's third-largest natural gas reserves--estimated at more than 900 trillion cubic feet--after Russia and Iran.
Qatar, which is a member of the Organization of Petroleum Exporting Countries, also produces some 800,000 barrels of crude oil a day.
(END) Dow Jones Newswires
23-11-10 1641GMT
