Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- Al-Sada: Laffan Refinery 2 to Cost QR 5.5 billion  Join our daily free Newsletter

MENAFN - Qatar News Agency - 02/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Qatar News Agency) The Laffan Refinery 2 (LR2) construction will cost up to QR 5.5 billion, HE Minister of Energy and Industry and Qatar Petroleum Chairman Dr. Mohamed bin Saleh Al-Sada told a press conference on the sidelines of a ceremony held to lay the foundation of the project.



He added that the project represents an added value to Qatari products in order to meet the growing domestic demand due to the expanding economy and the increase in population, which led to increased local demand for fuel. He noted that the refinery will support Qatar's exporting strength of other products, adding that the economics of the project are excellent. Qatar Petroleum considers the project as an opportunity to bring revenue for the country's GDP, expand the circle of the economy, take advantage of the added value of Qatar's natural resources in addition to giving a platform for Qatari cadres to join the project, Dr. Al-Sada said.



HE the minister said that the refinery is an integrated project that meets the domestic demand, supports the export capacity and opens the way for Qatari citizens to join it, consequently serving Qatar National Vision 2030. Dr. Al-Sada added that LR2 is an important project that expands on LR1, noting that the combination of both projects will create the largest condensate refinery in the world.



Construction work is expected to finish by the third quarter of 2016. On keeping up with environmental standards, Dr. Al-Sada said the project will maintain the highest levels environment preservation by reducing greenhouse gas emissions, the combustion of non-existent gas during normal operations in accordance with the highest international standards, and not discharging any water into the sea

 


Qatar News Agency




  MENA News Headlines
 Nov 26 2014 - Emirates Airlines adds new flight to Maldives routeMENAFN
(MENAFN) Dubai's Emirates Airline announced it has added a third daily service to Mal", the capital of the Maldives, which will begin servicing passengers on December 1, Arabian Business reported.The ...

 Nov 26 2014 - Abu Dhabi Int'l passenger traffic up 17 percent in OctoberMENAFN
(MENAFN) Abu Dhabi International Airport announced that it registered an increase by 17 percent in its passenger in October, Arabian Business reported.The airport said that it has registered a total ...

 Nov 26 2014 - Oman's Rolls-Royce sales grow 46 percent in Jan.-Oct.MENAFN
(MENAFN) Rolls-Royce Motors announced it has registered an increase in its sales in Oman by 46 percent during the January-October period, compared to the same period last year, Times of Oman ...

 Nov 26 2014 - GCC petrochemical industry to decline on falling oil pricesMENAFN
(MENAFN) Gulf countries' petrochemical industry is expected to begin facing challenges due to the falling of oil prices, US shale gas and China's polyethylene, Khaleej Times reported.These factors ...

 Nov 26 2014 - Syrian economy decline 40 percentMENAFN
(MENAFN) According to the Undersecretary General for Humanitarian Affairs and Emergency Relief Coordinator, Syria's economy has declined by almost 40 percent since 2011, due to the effects of the ...

 Nov 26 2014 - Qatar to invest USD43.62b on railways infrastructureMENAFN
Qatar's Ministry of Transportation announced it is currently working on the development of advanced transport infrastructure in the country, with several projects currently in the planning stages or ...

 Nov 26 2014 - Dubai's Kcal to expand to EgyptMENAFN
(MENAFN) Kcal, the Dubai-based restaurant chain announced it is planning to expand its business in the MENA region with its first store slated to open in Egypt by December this year, followed by 14 ...

 Nov 26 2014 - MENA's value of M&A deals hit USD9.3b in Q3MENAFN
(MENAFN) The Middle East and North Africa's (MENA) merger and acquisition activity increased by 17 percent during the July-September period of this year, with 109 deals announced compared with 93 ...

 Nov 26 2014 - UAE's Al Futtaim to invest USD700m in EgyptMENAFN
(MENAFN) Al Futtaim Group, the Dubai-based Corporation, announced it is planning to invest USD700 million in Egypt in a three-year period as well as pay the government USD30.5 million as part of a ...

 Nov 26 2014 - Banta, Pangatungan Defeat Kuwait SteelArab Times
(MENAFN - Arab Times) Banta Furniture survived Kuwait Steel's last ditch rally to finish with a pulsating 69- 66 victory in game five on Friday at the PBLK intercompany and 5'8" basketball ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help