At the recently concluded 4th LPGtrade Summit, H.E. Dr Mohammad bin Saleh Al Sada, Qatar’s Minister of State for Energy and Industry Affairs revealed that Qatar was to ramp up LPG production from 8 million tonnes/annum to 12 million tonnes/annum in 24 months during his opening address. This means Qatar will overtake Saudi Arabia as the world’s largest LPG producer.
He also hailed the 4th LPG Trade Summit as a “perfect forum to discuss the major challenges facing businessmen in the sector of Liquefied Natural Gas in the coming years”.
4th LPGtrade Summit, held under the patronage of Deputy Prime Minister and Minister of Energy and Industry H.E. Abdullah bin Hamad al Attiyah, was the biggest LPG trade meet in 2009, attracting participation from over 350 of the most influential LPG executives from over 31 countries. There was also a strong presence of local and international media at the conference, many of whom paid close attention to updates from Qatar, and OPEC’s eagerly anticipated speech on the outlook for 2010.
Hassan Mohamed Qbazard, the director of OPEC’s research department revealed that OPEC’s forecast for 2010 now shows positive world GDP growth of 2.7 percent, raised from an initial forecast of 2.3 percent in July. He also pointed out that volatility of prices is a permanent challenge to OPEC, while delivering assurance that OPEC will take the necessary steps to restore stability to the market.
The 350-strong audience also paid close attention to the keynotes morning session, with insights from leading influencers in world LPG trade flows, including Ali Al-Hammadi- CEO of Tasweeq, explained that in the typical North Field content three quarter consists of LNG/gas and 7 percent LPG. “That 7 percent is giving us now 6 million tons of LPG to rise to 9 million tonnes next year and ultimately reaching 12 million tons, making Qatar one of the largest LPG producers,” he said.
Other keynotes at the conference were delivered by Dennis M. Houston-EVP of ExxonMobil Refining & Supply Co, Dr. Chawki Rahal- EVP of Sonatrach, Phil Parker- GM New Business Development of Shell Chemicals ME, Andy Laven, VP Integrated Supply & Trading of BP and Philippe Sauquet-VP of TOTAL.
4th LPGtrade summit participants also participated in many fringe events designed to facilitate networking and interaction, including the LPG Challenge Golf tournament, the visit to Ras Laffan Industrial City, and the 4th LPGtrade Summit Gala Dinner at Doha’s beautiful Museum of Islamic Art.
The 4th LPGtrade summit team would like to thank our Official Host and Partner Tasweeq, Official Sponsor Exxon Mobil, Gold Sponsor Shell, Gala Dinner Sponsors Qatar Petroleum and Tasweeq, Bronze Sponsors BP and Total, Luncheon Sponsors Conoco Phillips and Itochu, and Panel Sponsor Argus for backing this event, and contributing towards its success.
We would also like to thank our promotion partners Argus, Energy Intelligence, Energy China Forum, Gas Bazaar, Gulf Oil and Gas, MEES, RIM Energy Market Intelligence, Thompson Reuters and World LP Gas Association for their support.
4th LPGtrade Summit was a resounding success, and we look forward to meeting everyone of you at next year’s event!
In the mean time, visit this website regularly, as we post more highlights of this year’s summit, as well as updates on next year’s event.
