Saturday, 21 October 2017 11:07 GMT
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Industries in Qatar are competitive: Al Sada

(MENAFN - The Peninsula) By Sanaullah Ataullah / The Peninsula

Many industries in Qatar are very competitive and the oil and gas production costs in the Qatar are lower globally, said Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada. 'Regarding the operation cost of oil and gas industry, Qatar is one of the cheapest countries, therefore at this time when the gas is in surplus in the world we are still in a very comfortable position because our costs are lowest in the world, said the Minister in a get together event held at Diplomatic Club on Tuesday.
Replying to a question whether the government is taking some steps to lower the operation cost of industries in Qatar to make them competetive in globally, Al Sada said: 'There are some industries whose operational costs are very competitive in Qatar, others are average. 'And there are some industries that are less competitive. It depends on the production and there are small and medium range industries.
'These are commercial products not the strategic ones. Commercial products are important therefore they always get state support so they can compete.
But these supports are being provided in the framework of international agreements signed with World Trade Organization so we could not go beyond these agreements, he added. 'Regarding the energy, I would like to assure that the cost of oil and gas production in Qatar are lower and this is the benefit of competition because we started very early and availed the opportunity which is called first mover advantage.
'This is great achievement. We started production and export of gas very early. We have been exporting gas from 20 years, at that time the cost was very low. Now for similar quantity of production cost is three times more than we had spent when we started. So if someone plans to produce now will have to spend three times more than our expenditures. Dr Al Sada was interacting with audience after an event the 'Diplomatic Salon-A a get-together with Dr Mohamed Bin Saleh Al Sada' on ‘QNV 2030 & the Future of Global Gas and Oil Market', hosted by the Ministry of Foreign Affairs.

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Industries in Qatar are competitive: Al Sada