NICOSIA, 1 February 2005 — Qatar will need at least $3 billion in 2005 to finance two petrochemical projects and the expansion of its liquefied natural gas (LNG) project, the Middle East Economic Survey reported yesterday.
The Cyprus-based weekly publication said the project finance will be required for the Qatofin and Q-Chem-2 projects, as well as for the expansion of the RasGas-2 LNG project.
However, if the Qatargas-3 and Qatar Fuel Additives Company (Qafac) come to market before the end of the year, the requirement would climb by an additional few billion dollars, although exact needs for some of these projects have not yet firmed up.