The Gulf is at the centre of a region considered to be the home of over 60% of the world's oil reserves, which produces 30% of the world’s oil supply.
Additionally, the Gulf holds 40% of the world’s natural gas reserves but only extracts 10% of world production. Hence the Gulf becomes more central to the energy needs of the world with each year that passes.
At the heart of the Gulf energy arena lies Qatar, which although small, is now highly significant on the world energy map. Based on current and planned activity levels, international energy companies will be significantly increasing their staffing levels in the region over the coming years.
With Qatar’s immense reserves of natural gas, its dramatic success in the monetisation of those reserves, its socio-political liberalisation and business friendly reformist identity, not to mention the government energy investment of approximately $80 billion dollars underway, Qatar’s pull as the energy centre of the Gulf is ever increasing.
Energy City Qatar will be a fully integrated business cluster for the industry leaders in oil and gas production; value/supply chain, National and International oil companies, support services, infrastructure and downstream activities, shipping and trading, market and resource data, intellectual property and energy trading.
At the heart of Energy City Qatar will be the International Mercantile Exchange (IMEX), a dedicated energy trading platform with a broad range of energy products.
IMEX is of particular importance as electronic energy trading is set to galvanise the energy trading markets. It is likely that within the next few years that electronic energy trading will be the fourth super asset class for global investors, alongside conventional debt, equity and forex.
Energy City Qatar has identified a number of industry specific products, services and facilities that are either prerequisites or competitively advantageous to offer in the establishment of a global energy hub for the 21st Century.
It is forging strong partnerships with the Qatar Foundation, Qatar Petroleum and QTel and will continue to further enhance these partnerships as an important part of its role as a leading socio economic development in Qatar.
In addition, Energy City Qatar will turn into a smart, technologically advanced city. Having already signed MOUs with two of the world’s foremost technology leaders, Microsoft and Cisco Systems to assist the City in this endeavour, with advances in software for the oil and gas industry, project management and communications, integrating all aspects of Energy City Qatar’s resident’s businesses
Looking at the region from a macroeconomic perspective, Qatar is the most business savvy choice when assessing a location. Qatar is one of the fastest growing countries with a growth rate comparable to China and India, and has one of the highest GDPs in the world. It has immense reserves of gas and extensive reserves of oil. By 2010, it will be the lead exporter of LNG.
Qatar’s economy is founded upon its immense gas reserves, and thus not significantly vulnerable to property crashes, nor is it dependent upon tourism. In addition, the Government’s approach to the education and skill diversification of its youth is second to none, providing the country with important next-generation entrepreneurial and professional skills and stability.
Qatar is considered to be the number one Arab country in which to do business, as evidenced by the testimonial from the World Economic Forum. It also has a best-in-class regulatory environment. There are free zones and a modern infrastructure.
Some of the main O&G players such as Exxon Mobil, Shell and TOTAL are already heavily involved in Qatar, and with the 80 billion dollars already marked for further government spending in the sector, there are many opportunities to had by international firms moving into Qatar.
For employees, an enjoyable lifestyle is vitally important. Qatar’s facilities are ever increasing, and as Energy City Qatar forms a part of Lusail, the meticulously planned extension of Qatar’s capital city, it offers fantastic lifestyle opportunities, for both families and singles.
Lusail is a development of an unprecedented scale, with its residential districts being home to up to 200,000 people. Energy City Qatar is being built adjoining Qatar Petroleum’s new facilities in the heart of Lusail, close to the corporate, waterfront, marina, and major entertainment districts. – Making it the perfect place to work and live.