Qatar_USA Today 2011

Qatar_USA Today 2011

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  The Al Shaheenoil and gas field off Qatar’s northeast coast represents one of the world’s greatest lessons in perseverance. Initially ex- plored and deemed eco- nomically unviable due to the challenging environ- ment, the Al Shaheen field was left untouched by ma- jor international oil com- panies until Maersk Oil decided to grab this partic- ular bull by the horns. IncooperationwithQatar Petroleum (QP), in 1992 Maersk began developing thefield,whichprovedtobe Qatar’s largest oil field. Just 18yearslater,inJuly2010,the two companies celebrated the production of their bil- lionth barrel of oil – a truly impressive landmark con- sidering the field was virtu- ally ignored for many years. Now in 2011, Maersk is planning to devise a scheme to extend the life of the Al Shaheen field, after com- pleting a $6.2 billion pro- ject to raise its production above the 330,000 bpd recorded in 2008. Indeed, Maersk aims to raise Al Sha- heen’s capacity to well over 500,000 bpd, despite QP’s currently limit on output to 300,000 bpd. In order to recover oil from this tricky field some 50 miles offshore, the Dan- ish company employs the world’s longest horizontal well. Last month, Maersk established a long-term col- laboration agreement with Dutch independent re- search company TNO to jointly develop new tech- nologies for increased oil recovery (IOR), focusing mainly on this type of long horizontal well. MaerskandTNOarecon- ducting the project at Do- ha’s Qatar Science and Technology Park, where both companies already haveresearchcenters.Maer- sk is investing an addition- al $100 million in its facility. Maersk Oil, working against the odds Invest in Qatar forum The Danish oil company proved to the world that Qatar’s oil could indeed be developed Atwo-dayforuminNYC is bringingattentiontothenew frontiersofopportunitiesfor investorsinQatar.OnApril 6 and 7, government offi- cials,decisionmakers,busi- nessmenandrepresentatives oftheprivateandpublicsec- tors are convening to share and promote Qatar’s grow- ingrolesontheglobalstage. TheBusinessandInvest- ment in Qatar Forum has been organized by the For- eign Ministry’s Permanent Committee for Organizing Conferencesandvariouspri- vate sector entities. Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content T he State of Qatar is emergingandreach- ing new frontiers. This tiny Gulf emi- rate,slightlysmaller thanthestateofConnecticut,is rising to global prominence as anoilandgaspower,asasports capital,asabusinessandreales- tate development hub, and as a research center. Last December, the gov- ernment of Qatar celebrated the state’s newly developed capacitytoproduce77million tons per annum (MTA) of liq- uefiednaturalgas(LNG),thus placing it head and shoulders above the competition. In 2002, Qatar’s annual capaci- ty sat at just 14.9 million tons, but new trains, debottle- necking projects and millions of dollars of investment from international oil companies, such as ExxonMobil, Cono- coPhillips, Shell, Chevron, and Maersk Oil, have turned what was once described by skeptics as an “economic pipedream” into a very lucra- tive reality. Today, Qatar stands as a LNG powerhouse well suited to step in and offer help in times of need. A spokesper- sonfromQatargasrecentlyan- nounced that the company “standsreadytoprovideallthe support to its long-term part- nersandfoundationcustomers inJapantomeetanyincreased requirements for LNG at this time.Qatargascanalsorelyon our sister company RasGas to support Qatargas’ efforts to meetourJapanesebuyers’and partners’ needs.” SuchisQatar’sglobalimpor- tance in the 21st century ener- gy industry that it was chosen bytheWorldPetroleumCoun- cilasthefirstMiddleEasternsite of the WPC congress. The councilcitesvariousreasonsas to why Qatar was selected to host the 2011 event, including its position as the largest LNG producer and exporter and one of the fastest growing economiesintheworld,aswell as its modern facilities, infra- structure, hospitable people, and recent success in hosting the Asian Games. Qatar made history in 2006 when it became the first Mid- dleEasterncountrytohostthe 15th annualAsianGames,Asia’s largest sporting event. And in 2022,assoccerfansaroundthe world know, Qatar will once again be in the spotlight as the region’s first-ever site of the FI- FAWorldCup.Theannounce- ment by FIFA last December practicallycoincidedwiththe77 MTAcelebration,makingfora double red letter month. Inbusiness,Qatarisalsoshin- ing,withseveralcompaniesand holdings helping to diversify the national economy. From petrochemicals to real estate, and from consumer products to Islamic and traditional fi- nance,Qatariandregionalcom- panies are expanding the market, contributing valuable services, and reshaping the country’s skylines. Meanwhile, the Qatar Sci- ence and Technology Park (QSTP) is home to various in- ternational companies con- ductingcutting-edgeresearch and development. As Qatar is an energy powerhouse expe- riencing tremendous eco- nomic growth, much of what goes on at the QSTP is related to environmental sustainabil- ity in an effort to prevent the negative effects of urban and energy development. While growth in Qatar is seeminglyboundless,thegov- ernment is careful to ensure that progress in both industry and business are in line with Qatar’s National Vision 2030, which emphasizes modern- ization while preserving tra- dition.TheQNV2030focuses on the four pillars of human, social,economicandenviron- mentaldevelopment,andaims tocreate“anadvancedsociety capable of sustaining its de- velopment and providing a high standard of living for all of its people.” Sheikh Hamad bin Jassim Al Thani, Prime Minister and Foreign Minister of Qatar, with Secretary of State Hillary Rodham Clinton Qatar Petroleum (QP), the state-owned company re- sponsible for Qatar’s oil and gas industry, made history in 2010 by achieving a liquefied naturalgas(LNG)production capacityof77milliontonsper annum (MTA). This signifi- cantmilestonewasmadepos- sibleinlargepartbylong-term partnerships with interna- tional oil companies such as ExxonMobilaswellasbypro- vidinganinvestor-friendlyen- vironment and a focus on innovation. In the 1990s, Qatar’s vision of developing an LNG indus- try was dismissed by many as being unattainable. Qatar’s largenaturalgasreserveswere viewed as effectively strand- ed by the long distances be- tween the emirate’s North Field and the end-user mar- kets. However, with the glob- al demand for clean, efficient energy rising rapidly, the Qatari government decided to develop the technologies to make commercialization possible. It encouraged fi- nancialinvestmentandform- ing relationships with foreign partners. Today, QP has many suc- cessfulprojectswithmajorin- ternationaloilcompaniesand a worldwide distribution net- work for the country’s LNG. Qatar’s proven natural gas resources are estimated to be nearly 900 trillion cubic feet, equivalent to almost 14% of the world’s total. The country is the third largest natural gas resource holder after Russia and Iran. In2009,Qatarexported1.8 trillion cubic feet of LNG, about20%oftotalglobalLNG trade, based on analysis in the U.S. Energy Information Agency’s recently-released QatarCountryAnalysisBrief. Also, in the second half of 2009 LNG output surpassed crude oil production for the first time since Qatar launched its gas projects. The InternationalMonetaryFund has projected Qatar’s LNG andrelatedexportstobe$33.2 billion for 2010 and high- lightedthecountry’s“sizeable enhancement of LNG capac- ity” in a recent report. Last December, Deputy Prime Minister Abdullah bin Hamad Al-Attiyah said, “The StateofQatarpromisedtore- alize the vision of His High- ness the Emir for Qatar to reach LNG production ca- pacity of 77 MTA of LNG by the end of 2010. This mile- stone brings to fruition years of investment in infrastruc- tureandexpertisethathasen- abled us to go from zero to 77 MTA in a mere 14 years. To- day, Qatar has invaluable cre- dentials as a key innovator in the global LNG market, with a reputation for delivering LNG to global markets safe- ly, reliably and efficiently.” Innovationisthemajorfac- tor that has enabled Qatar’s LNG industry to flourish. At the Qatar Science and Tech- nology Park in Doha, where ExxonMobil Research Qatar Limited is an anchor tenant, new ideas are researched and developed. Among other fo- cusareas,researchisbeingcon- ducted into environmental management and LNG safety. ExxonMobil has brought manyimportanttechnologies to its partnership with QP, re- sulting in milestones such as production wells that are deeper and produce gas at flowrateshigherthanthetyp- ical well in the Gulf of Mexi- co and the North Sea. Overseas, QP, ExxonMobil andConocoPhillipshavecon- structed the Golden Pass LNG terminal on the Sabine Pass waterway near Port Arthur, Texas. The terminal has the capacity to deliver 2.5 billion cubic feet per day of natural gas. This represents the average daily gas used by about 10 million households in the U.S. Minister of Energy and In- dustry and chairman of QP Dr. Mohamed Saleh Al-Sada said, “The commencement of commercial operations at the Golden Pass terminal and pipeline marks another no- table achievement in Qatar’s world-leadingLNGbusiness.” This December, Doha will become the first country in the Middle East to host the World Petroleum Congress, further reflecting Qatar’s key roleasamajorproviderofen- ergy to the world. Promoting innovation and developing advanced technologies are key to the success of Qatar’s LNG industry QATAR The new development model in the Middle East This supplement to USA TODAY was produced by United World Ltd.: Suite 179, 34 Buckingham Palace Road London SW1W 0RH - Tel: 44 20 7409 3106 - [email protected] - www.unitedworld-usa.com Our World This report is available at www.unitedworld-usa.com AA UUNNIITTEEDD WWOORRLLDD SSUUPPPPLLEEMMEENNTT PPRROODDUUCCEEDD BBYY:: Nathalie Martin Bea ARNOLD MAERSK MC-KINNEY MØLLER, Former CEO of MaerskDR. MOHAMED SALEH AL-SADA, Minister of Energy and Industry and Chairman of Qatar Petroleum Qatar Petroleum: reaching new frontiers THIS FORUM IS PARTLY SPONSORED BY QATAR’S PROVEN NATURAL GAS RESOURCES ARE ESTIMATED TO BE ALMOST 14% OF THE WORLD’S TOTAL AND QATAR PETROLEUM MADE HISTORY LAST YEAR BY REACHING AN LNG CAPACITY OF 77 MILLION TONS PER ANNUM QATAR USAT 8 pages v3.qxd 29/3/11 18:36 Página 1
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  Distributed by USATODAY Thursday, April 7, 2011 33 QATAR Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content ConocoPhillips, a tried and tested partner of Qatar Energy giant ConocoPhillips caneasilyclaimexpertiseinthe field of oil and gas thanks to a successful track record span- ning more than 135 years. To- day the third largest energy company in the U.S., Cono- coPhillips is also an important global player, seeking out op- portunitiesabroadintheworld’s hydrocarbon hotspots. The company’s relationship with Qatar dates back to 1997 when, through a 50% share in Chevron Phillips Chemicals, it collaboratedwithQatarPetro- leum (QP) to establish the Q- Chem I joint venture, a fully integrated ethylene/cracker polyethylene production facil- ity. Last year, Chevron Phillips and QP’s Q-Chem II went on- line to produce high-density polyethylene (FDPE) and nor- mal alpha olefins (NAO). Asfornaturalgas,Qatar’sex- ceptionally strong suit, Cono- coPhillipsisashareholderinthe Qatargas 3 Joint Venture, and looked on as a proud family memberwhenthecountrycel- ebrated the 77 MTA of LNG capacity last December. ConocoPhillips holds a 30% share of the Qatargas 3 (QG3) venture, with QP retaining 68.5%andMitsuitheremainder. QG3’smega-train,whichisthe 6th QatargasLNGtrainlocated inRasLaffan(theworld’slargest LNGcomplex),beganproduc- ingLNGinNovemberlastyear. With a capacity of 7.8 mil- lion metric tons per annum, Train6hasanexpected25-year lifespan and additionally can produce 70 million barrels per day of liquefied petroleum gas (LPG) and condensate com- binedfromQatar’sNorthField. ConocoPhillips was instru- mentalintheappraisaldrilling of the North Field that result- edintheultimateallocationof thecurrentblocksusedbyboth the QG3 and QG4 Joint Ven- tures. The construction of the two projectswasexecutedsimulta- neouslybyajointprojectman- agement team composed of ConocoPhillips, Shell and Qatargasemployees.Although each venture has its own mega train, they do, however, share offshore production facilities, pipelines,andonshorefacilities. ForJimMulva,chairmanand CEO of ConocoPhillips, Qatar hasprovedtobebothanexcel- lent investment and partner. “Qatar is a high priority coun- tryforConocoPhillips.Wehave an excellent and growing rela- tionship with Qatar, where we have successfully invested bil- lions of dollars in LNG and petrochemical projects. Dur- ing the five years of develop- ment work that this massive project required, we have en- joyedtheopportunitytoestab- lish close, collaborative relationships with Qatargas, Qatar Petroleum and the peo- ple of Qatar, and now look for- ward to seeing QG3 provide clean-burning natural gas to marketsthroughouttheworld,” he said in a recent interview. Mr. Mulva added that the Gulf country is conveniently located to both Asian and Eu- ropean markets and is rich in feedstock for petrochemicals, two major factors in reducing costs and raising competitive- ness. LNG from Train 6 is sold to high-value markets as well as several places where Sales and Purchase Agreements are al- ready in place, including the UnitedStatesandCanada.The principledeliverypointinNorth America is the Golden Pass LNGterminalonthesoutheast coast of Texas. With a 12.4% ownership in the facilities and asabuyerofQG3LNG,Cono- coPhillips has firm rights to some35%oftheGoldenPassca- pacity of 15.6 million mtpa. Inauguration of the Golden Pass terminal is taking place as part of the Invest in Qatar Fo- rumcurrentlyoninNewYork. Through its participation in QG3 and Golden Pass, Cono- coPhillips has been part of a world-class joint venture team that develops offshore and on- shore facilities of the highest caliber. “The project will play an important role in further strengtheningexistingbusiness relationships with global LNG buyers as well as building new businessrelationships,”saidMr. Mulva. JIM MULVA, Chairman and CEO of ConocoPhillips For 14 years, this Texas-based company has forged strong relationships through successful LNG and petrochemical projects Shell reaches new milestones in 2011 for GTL and LNG Within the next few months, Shell’s multimillion-dollar in- vestment – the Pearl GTL – willbeginproducingfuel.This gas-to-liquids plant located at Ras Laffan is being jointly developed by state-owned Qatar Petroleum (QP) and Shell, and once completed, will be the world’s largest source of GTL products, able to produce 140,000 barrels per day. Additionally, the plant will be able to produce 120,000 barrels of oil equivalent dai- ly of natural gas liquids and ethane. Shell is a pioneer in this realm, having built the first GTL pilot plant in 1983 in Amsterdam as well as the first commercial-scale plant 10 years later in Bintulu, Malaysia. Furthermore, al- though over the past 35 years ofGTLdevelopmentShellhas filed some 3,500 patents, the company’s world-scale un- dertaking in Qatar is bringing new discoveries and chal- lenges. “Throughout the Pearl GTL plant you see new breakthroughs, sometimes in technology, but also in scale,” explains Andrew Brown, executive vice pres- ident of Shell. “Some of our utilities systems are some of the largest the world has ever seen, be it oxygen man- ufacturing or steam sys- tems, or water treatment facilities.” The advantages of GTL are manifold.Despitebeingacap- ital intensive activity, the con- version of gas to liquid facilitates its transportation, commandsahigherprice,and isofahigherqualitythancon- ventional fuel. While the Pearl GTL plant is still a thing of the future, albeit the near future, Shell can already boast a huge achievement for 2011. In ear- ly February, Qatargas pro- duced the first batch of liquefied natural gas (LNG) from its new Train 7 plant (dubbed Qatargas 4) where Shellholdsa30%share,mark- ing the moment all 14 of the country’s LNG trains went up and running. This cargo was then deliv- ered to Shell’s Hazira LNG terminal in India. Shell is al- so providing operation and maintenance services to run the Nakilat fleet of 25 LNG tankers. Train 7 has raised Qatar- gas’ overall production ca- pacity to 42 MTA, and by extension, has raised Qatar’s production to well over the 77-MTA mark so proudly cel- ebrated in December. And it is the country’s drive, among other reasons, that attracted ShelltoQatarinthefirstplace “[Qatar] is an extraordi- narily important resource holder – with 900 trillion cu- bic feet of gas it holds almost 15% of the world’s proven re- serves. That is the first and foremost reason as to why we want to invest here. When we came here we found excellent infrastructure and also I think there is a very good business environment in which to in- vest the money,” explains Mr. Brown. “The country has ambi- tion and we like that. And that means that we can bring over our cutting-edge technology.” Huge things are afoot this year for Royal Dutch Shell in Qatar, with massive investments bearing, or about to bear, fruit In 2009, Shell won the first-ever Qatarization award in the energy sector, in recognition of the company’s policy of recruitment and training of local employees WORKING WITH QATARI COMPANIES, SHELL HAS LAUNCHED THE COUNTRY’S 14TH LNG TRAIN AND WILL SOON BEGIN PRODUCTION AT PEARL GTL, A GLOBAL LANDMARK PROJECT Partnerships leverage LNG potential Tapping into Qatar’s im- mense natural gas reserves by leveraging partnerships with leading multinationals has enabled Qatar Petrole- um (QP) to establish a world- class liquefied natural gas (LNG) industry. In recent years, Qatar has witnessed a series of historic milestones with its Qatargas and RasGas LNG joint ven- tures. Twelve out of the 14 projects are between QP and ExxonMobil. These megapro- jects came on stream and helped make Qatar the world’s leading exporter of LNG. The largest gas lique- faction trains in the world, each having a production ca- pacity of 7.8 million tons per year, are supplying LNG car- riers that are now shipping Qatari gas to regasification terminals that the two com- panies have constructed in Europe and the United States, and to other customers throughout the world. In ad- dition, last May QP and ExxonMobil inaugurated Al Khaleej Gas 2, an integrated gas project with a target pro- duction capacity of 2 billion standard cubic feet of gas per day, making it the largest do- mestic gas supplier in the State of Qatar. The latest megaproject to hit the headlines in the Per- sian Gulf emirate is the multi- billion-dollar joint venture between QP and ExxonMo- bil for the Barzan gas pro- ject. Deputy Prime Minister Abdullah bin Hamad Al-At- tiyah says that the project “will play a critical and strate- gic role in sustaining the high growth rate of the Qatari economy.” The Barzan project is ex- pected to commence opera- tions in 2014 and will produce 1.4 billion cubic feet of gas per day. Located in Ras Laffan Industrial City, Barzan will be operated by RasGas to produce and process gas from Qatar’s North Field. It will supply gas to power sta- tions and industries in Qatar, ethane to the local petro- chemicals industry, and as- sociated liquid hydrocarbons for local and international markets. Rex Tillerson, chairman and chief executive office of ExxonMobil, says Qatar is a model for other resource- rich nations with its “stable and sensible” policies that have facilitated resource de- velopment. “There are two essentials that are necessary for a com- pany like ExxonMobil to con- sider entering business in a new country and Qatar pro- vided both of those,” says Mr. Tillerson. “First is the world- class resource in the form of the North Field, but equally if not more important is the leadership of the country and the vision of His Highness the Emir to create a business environment that gave us the confidence to risk our capi- tal and bring our technology to the country. We knew that the contracts that we put in place with Qatar would be respected and we would have the opportunity, if we took the risk, to share in the re- wards of those investments,” he says. This long and stable part- nership enables QP to make a significant contribution to continued economic growth Emir of Qatar Sheikh Hamad bin Khalifa Al-Thani, pictured center, and Rex Tillerson, chairman and CEO of ExxonMobil, at the Al Khaleej Gas 2 inauguration last May The partnership between Qatar Petroleum and ExxonMobil has played a key role in Qatar’s rapid transformation into the world’s largest supplier of reliable liquefied natural gas (LNG) Major oil companies lend expertise Qatar’sirrefutablesuccessat oil and gas development is due in large part to the par- ticipation of major interna- tional oil companies in the sector. Two such players are Chevron Corporation and Occidental Petroleum, or OXY. In 1996, Chevron signed an exploration agreement with Qatar, marking its en- trance for the first time in this country. Just a few years later, Chevron expanded in- to petrochemicals, partner- ing with ConocoPhillips to form Chevron Phillips and jointly develop the Q-Chem I facility with Qatar Petrole- um (QP) in Mesaieed In- dustrial City, and later Q-Chem II at Ras Laffan. Qatar has been good to Chevron.AccordingtoEval- uateEnergy,thankstoitsex- pansion plans, especially in the Middle Eastern state, Chevron’sequitystakeinad- ditional LNG capacity be- tween now and 2020 totals 17 million tons, ranking it as thefastestgrowingLNGpro- ducer worldwide. Chevron’sinvestmentsal- so go beyond oil and gas ex- ploration and production. In early 2009, the company earmarked $20 million over five years to form a part- nership with the Qatar Sci- ence and Technology Park in Doha and establish a cen- ter of excellence in renew- able power and energy efficiency. Also, collaborat- ing with GreenGulf, a local renewable energy compa- ny, Chevron is testing solar energy technologies and their application in Qatar. OXY, the second largest oil producer in both Oman andoffshoreQatar,isapart- ner in the Dolphin Project, the first cross-border nat- ural gas pipeline in the Per- sian Gulf which supplies natural gas from Ras Laffan to markets in Oman and the UAE. Furthermore, OXY has worked closely with QP for more than 15 years to develop and operate off- shore oil fields, including Idd El Shargi North Dome, Idd El Shargi South Dome, and Al Rayyan. Two Californian companies are strong partners in developing Qatar’s oil, gas and renewable energies The Q-Chem plant is operated by QP and Chevron Phillips and to human, social and en- vironmental development. The investments contribute to Qatar’s National Vision 2030 for a sustainable devel- opment. ExxonMobil is also a part- ner of the Qatar Foundation in special programs such as the Social Development Center’s First Step Program and Career Counseling Unit, which provide skills to young Qataris, especially young Qatari women, as they enter the workforce. The company is one of the main supporters of Qatar’s World Innovation Summit on Education. QATAR USAT 8 pages v3.qxd 29/3/11 18:36 Página 3
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  The drive tocreate a vibrant small and medium-sized en- terprise (SME) sector in Qatar hasrecentlybeengivenaboost withthelaunchofaninnovative financing package devised by Qatar Development Bank (QDB). The Doha-based bank haspartneredwithfiveinstitu- tionstoprovidefinancingtoex- isting and new SMEs by guaranteeingbanklendingun- der its new Al Dhameen scheme. The banks participat- ingintheschemeareQatarNa- tionalBank,QatarInternation- alIslamicBank(QIIB),AlRayan Bank, Gulf Bank and Com- mercial Bank. Al Dhameen primarily tar- gets SMEs with an annual rev- enueturnoverofupto40million Qatari riyals ($11 million). For new start-ups, the program guarantees 85% of the facility, up to 10 million riyals. For ex- isting eligible SMEs, Al Dhameen guarantees 75% of theprincipalwiththemaximum financing available capped at 8 million riyals. The100%state-ownedbank finances small and medium- sized industrial projects and provides technical assistance andadvicetoentrepreneursand industrialists to help get their projects off the ground. QDB also provides consultancy ser- vicesandfinancingforprojects in education, agriculture, fish- eries, healthcare, animal re- sources and tourism sectors. Followingextensiveresearch andmarketstudiescarriedout byQDB,accesstofundingwas found to be the biggest hurdle facedbytheprivatesector,and SMEs in particular, because of guarantees required by banks operating in the country. With theQatarNationalVision2030 inmind,QDBlaunchedthenew guarantor program, which has beendesignedtodevelophigh- prioritysectors,suchasmanu- facturingandknowledge-based ventures. Al Dhameen is also expect- edtoencourageotherbanksin Qatar to increase their lending toSMEs,especiallytothosethat hold potential but are not in a position to leverage assets or provide accounting records to securesuchloans.Thescheme will enable SMEs to build up a credit history and make them better positioned to apply for credit facilities from banks in the future without significant guarantees. Furthermore,inJanuaryQDB launchedtheQatarExportDe- velopment Agency (Tasdeer) thataimstoopennewmarkets for Qatari products not con- nected to the emirate’s oil and gas sector and raise their com- petitiveness worldwide. Distributed by USA TODAYThursday, April 7, 201144 QATAR Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content The government’s prompt in- tervention in supporting lo- cal banks in December 2009, the solid levels of liquidity, and the state’s sound pre- recession economy have been major factors in safeguarding Qatar. The country achieved a remarkable growth in GDP of over 16% last year and the forecast for 2011 is 18%. In the financial sector, re- cent developments include changes at Qatar Financial Center (QFC) aimed at fur- ther boosting the finance sec- tor’scontributiontoeconomic diversification. Another boom to the sec- tor is the partnership be- tween the Qatar Exchange (QE) and the NYSE’s Eu- ronext, whose 20% stake ($200 million) represents its largest investment in a for- eign exchange and first step into the Middle East. The government has unified the regulation of its financial ser- vices sector under a single body, creating a clearer framework for foreign oper- ators. Doha Bank is the largest private commercial bank in Qatar, and after being incor- porated in 1978 it has grown to be one of the country’s leading financial services in- stitutions. The lender strives to offer its clients the most innovative technologies and to employ well-trained, ex- perienced workers. “Doha Bank indeed is the leader, the one to initiate ex- clusive offerings, mainly al- ternative investment options for its loyal and yet financial- lyestablishedcustomers,”says Raghavan Seetharaman, chief executive officer of Doha Bank Group. Qatar is making an ambi- tiousefforttoattractmorefor- eign banks. In 2005 the government set up the Qatar FinancialCenter(QFC)aspart ofitsplantobecomearegional banking hub. The QFC helps give Qatari and international investorsaccesstolocalandre- gional opportunities. U.S.-based lender Citibank has been developing strong relationships with Qatar’s fi- nancial institutions and top corporations for more than 30 years from its regional headquarters in Bahrain, Dubai and London. In 2007, however, the bank set up a full-service presence at the QFC, from which it offers more personal contact in its full range of corporate and investment banking services. Earlier this year Citi an- nounced plans to strengthen its operations in the emirate, which has enjoyed rapid eco- nomic growth and whose wealthy citizens have need for more sophisticated bank products. “Qatar is uniquely posi- tionedwiththeamountofliq- uidity to tap opportunities,” says Alberto Verme, Citi’s chief executive for Europe, the Middle East and Africa. Shariah Compliant Finance (SCF) is also very present in the banking sector in Qatar and getting stronger. Earlier this year, the governor of Qatar Central Bank an- nounced that conventional banks could not offer Islam- ic finance products directly or through a subsidiary. According to a research note sent to clients by Gold- man Sachs analyst Waleed Mohsin, Islamic banks have been subject to strong com- petition from Western banks in the region offering Shari- ah-compliant products, which ate into their market share during 2010. Now Is- lamic banks will no longer have to compete with con- ventional banking institu- tions for loans and deposits and would potentially be able to buy their Islamic portfolios at favorable terms. Qatar has 14 conventional banks–sixdomestic,onespe- cialized and seven foreign- owned – and four Islamic banks; all of which come un- der the ambit of the central bank. Every economy needs a strong,solidbankingsectorto help finance growth. Qatar’s lendersarewell-managedand forward-looking institutions that are ready to partner with local and international in- vestors that are interested in taking advantage of the many opportunitiesthecountryhas to offer. Qatar National Bank, or QNB, is the Persian Gulf country’s biggestfinancialinstitution,with amarketshareapproaching40%. It was established in 1964 as Qatar’sfirstlocallyownedcom- mercialbank,andishalf-owned by the Qatar Investment Au- thorityandhalfprivatelyowned. QNB has one of the coun- try’smostcompleteofferingsof financialservicesandproducts, including retail, corporate, in- vestment,treasury,andwealth management products for in- dividuals, companies and gov- ernments. The bank offers its clientsthecountry’sbiggestser- vicenetwork,whichcomprises more than 160 ATMs and 44 branches and offices. QNBisnotjustexpandingits presence into new markets in Qatar. The bank is adding branches and offices in cities aroundtheworld,suchasLon- don and Paris, with a presence inatotalof23countriesaround the world, including Yemen, Oman, Kuwait and Singapore. Opening offices in foreign citiesisonemethodofexpand- inginternationallyusedbyQNB, anotherisbuyingstakesinoth- er banks. QNB owns 34.3% of Jordan-based The Housing Bank for Trade and Finance, 23.8%ofCommercialBankIn- ternationalintheUAE,andparts of lenders in Tunisia, Syria and other countries. The bank’s expansion pro- gramhasalreadypaidoffforits owners,producingstrongprof- it and asset growth in recent years.Thegroup’snetprofitin- creased 35.8% in 2010 from a yearearlier,reaching5.7billion Qataririyals($1.57billion),while total assets rose 24.6% in the same period to 223.4 billion riyals ($61.4 billion). YoussefHussainKamal,chair- man of QNB Group’s board of directors, attributed last year’s excellentresultstoQNB’snon- stop growth both geographi- callyandinitsactivities,aswell astothebank’sconservativeap- proach to risk management. QNB has been adding to its bankingactivitiesformanyyears now. QNB Capital, an invest- ment banking unit that offers services to corporations, gov- ernmentsandotherinstitutions, wasestablishedin2008andhas alreadygainedanexcellentrep- utation for its extensive trans- action experience, in-depth advisoryservices,andfirst-class research capabilities. Theparentbank’ssolidityhas been recognized by the inter- national financial community, earning it some of the highest ratingsintheregionfromcred- it rating agencies Standard & Poor’s,Moody’s,andFitch.QNB hasalsowonmanyawardsfrom specializedfinancialmagazines foritsinnovativeproductsand its outstanding economic per- formance. Qatar has mainly observed the financial crisis from a near yet comfortable distance Highly rated QNB provides comprehensive financial packages through the nation’s biggest network Qatar has a well structured network of local, regional and international banks providing a full spectrum of banking products, from innovative investment options to Shariah-compliant services QATAR ACHIEVED NOTABLE GDP GROWTH OF MORE THAN 16% LAST YEAR AND 18% IS FORECAST FOR 2011 WORKING WITH THE COUNTRY FOR OVER 30 YEARS, CITIBANK OFFERS WEALTHY QATARI CITIZENS SOPHISTICATED BANKING PRODUCTS QATAR HAS FOUR ISLAMIC BANKS AND 14 CONVENTIONAL BANKS: SIX DOMESTIC, ONE SPECIALIZED AND SEVEN FOREIGN- OWNED INSTITUTIONS Qatar National Bank shows solidity and growth Qatar Development Bank is hoping to spur greater activity in the private sector and enhance economic diversification QDB targets SMEs with new financing package Shareef Al-Emadi, CEO of QNB, and Mansour Al-Mahmoud, CEO of QDB, sign a memorandum of understanding for a loan assurance program for SMEs in Qatar Riding the wave of growth QATAR USAT 8 pages v3.qxd 29/3/11 18:37 Página 4
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  Distributed by USATODAY Thursday, April 7, 2011 55 QATAR Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content As one of the world’s fastest growing economies, Qatar is attractingaspecialclassofbusi- nessesandexpats.Meanwhile, Qataris are enjoying an in- creasingly high quality of life and greater spending power. Consequently,companieswho vieforagreatershareofthisro- bustmarketturntoglobalmar- ketingandadvertisingleaders tohelpthemboosttheirbrand and reach a greater audience. Pioneer and market leader DDB,forexample,isonemulti- national that has been re- sponsible for some of Qatar’s most successful campaigns. Present in nearly 100 coun- tries, DDB innovated adver- tising back in the mid-1900s, turning what was once a uni- directionalmessageintoanin- teractivedialoguethatleadsto action and mutual benefit. Local house q.media was founded in 2004 and has al- ready grown into the largest media provider in Qatar and oneofthelargestintheregion. Thecompanyisrenownedfor itsinnovativeandefficientap- proachtoutilizingmediatools for premium audience deliv- ery. Three years ago, q.media joinedforceswithJCDecauxto combine the knowledge and expertiseofthispowerfulcom- pany for outdoor advertising with q.media’s understanding of the local and regional mar- ket.Theresulthasbeenanex- citingnewclassofadvertising that takes into consideration the architectural and urban characteristics of Doha. Even newer on the scene is Firefly Communications, foundedin2007bytwoambi- tious and entrepreneurial Qatariswhoidentifiedthevast possibilitiesformarketingand advertising that opened up as the country’s economy achievedsustainedgrowth.Just oneexampleoftheseveralnew start-ups in this sector, Firefly is a complete end-to-end cre- ative communications com- pany that aims to become a platformofinnovativeandcut- ting-edge solutions. Though just four years old, Firefly’s clients include heavyweights such as Aljazeera, Chevrolet, Jaidah Group, Qatargas and Burger King. From multinationals to local start-ups, advertising is becoming a big business in Qatar Branding in Qatar, more competitive than ever Paving the way in increasing the country’s connectivity is Qatar-based Gulf Bridge In- ternational, or GBI. With the Middle East’s first privately owned submarine cable sys- tem, GBI is quickly becoming the carrier’s carrier of choice forwholesaletelecommunica- tions traffic around the Gulf and beyond. In March of this year, GBI announced the landing of its new cable at Vodafone’s inter- national cable landing station just north of Doha. To be launchedlaterthisyear,thisca- blesystem,thefirstoftwoGBI has planned in Qatar, will in- terconnect all Gulf countries and provide onward connec- tivitytoEurope,AfricaandAsia. GBI’s state-of-the-art fiber- optic network offers carriers greaterbandwidth,choice,re- silienceandvalue,therebyfur- thering Qatar’s, and the region’s,overalladvancement. “Achievingaknowledge-based societyintheGulfdependsup- on the availability of high-ca- pacityfiber-opticconnectivity, both here in the region and across the globe,” says Rashed Al Noaimi, chairman of GBI. ProvidingQataricompanies with a broad range of profes- sional technical and manage- ment support services is California-based AECOM. Active in areas as varied as transportation, environment, architecture and design, eco- nomics, building engineering, programmanagement,andpro- gram,costandconsultancy,AE- COM is involved in various Qatari landmark projects. The Fortune500companyhasalong anddistinguishedhistoryinthe Middle East, spanning over 60 years,andhasbeeninstrumen- tal in shaping the modern face of the region. In Doha alone, AECOM’s handiwork can be seen in the master plans of Education City’s landscape and Heart of Doha, a downtown regenera- tion project. AECOM is also responsible for the environ- mental plan and monitoring of the New Doha Port as well as the construction consul- tancy for the New Doha In- ternational Airport. International companies laden with know-how are lending their expertise in management services and technology to Qatar Servicing the nation’s development Jaidah Group goes from family business to holding In2007,theMannaiCorpora- tion, one of Qatar’s oldest and largest family trading busi- nesses, listed on the Doha ex- change. The move converted the company into a model for Qatar’sprivatesprawlinghold- ings to become public share- holdingcompanies,atrendthat is deepening in the country. Many of these same busi- nesses, with names now be- coming increasingly familiar suchasAlfardanGroup,AlJas- sim Group, Al Jaidah Group andAlSulaitiGroup,support- edthecountry’seconomylong beforethearrivalofoilandgas revenues.Overthepastdecade, they have grown along with Qatar’srapidlyexpandingecon- omy,inmanycasesmovingin- to the international arena or about to do so. Consequently, they are also playing an indis- pensable role in pushing the diversificationofthecountry’s economyforward,andassuch, toward realizing the goals of Vision 2030 to reduce Qatar’s dependence on its hydrocar- bon industry. The groups have been suc- cessful in bringing the world’s most well known brands to Qatar. Alfardan Group deals with BMW, Ferrari, Bentley andRollsRoyce;NBKS,orthe NasserBinKhaledGroup,has attracted Mercedes Benz and HarleyDavidson;AlJassimhas brought in Burger King and Applebee’s;andthelistofglob- al names now available in the country goes on. Convertingfromfamilybusi- nessesintoglobal,transparent andaccountablelocal,region- alormultinationalcompanies withworld-classbusinessstan- dards, these same companies are employing the aid of well known international compa- niessuchasJ.P.Morgan,which recently opened an office in Doha, to guide them through the transition. The bank has been in- volved in a number of land- mark transactions in the country, including the State of Qatar’s $7 billion triple- tranche bond offering and Qatar Telecom’s $1.5 billion dual-tranche bond offering. J.P. Morgan was also an ad- visor on Qatar Real Estate Investment Company’s merger with Barwa Real Es- tate Company. Some, like Qatar’s Jaidah Group, which has over a cen- tury of trading experience un- deritsbelt,arechoosingnotto go public, even as they under- godeeptransformationswith- in the corporation. Initially established at the end of the 19th century by Ibrahim Youssef Jaidah, the company dealtwithexoticimportsfrom places like Iran, India and Yemen. Jaidah Motors and Trading Company was founded some 50yearslaterbycurrentchair- manJassimJaidah.Inthenear- lyfivedecadessincethen,ithas forged partnerships with ma- jor international manufactur- ers,helpingthegrouptoemerge into a world-class profession- alcompanywhilemaintaining its grassroots family business values. Today, the group has significant interests in the au- tomotiveindustry,heavyequip- ment,industrialsupply,energy, technology and furniture. Mr. Jaidah’s son and chief development officer for the group,MohamedJaidah,says that one of the main reasons the company has yet to go public is that it is financially abletogrowbusinessesatthe rate necessary. “Oneofthefirstthingsisthat we are not exclusively depen- dent on ROI – return on in- vestment – and creating shareholder value as the case would be with a publicly-list- ed company. We can take de- cisions and if we envision somethingforthelongterm,we canactuallyallowourselvesto takeahitintheinitialyearsbe- fore seeing any ROI.” One of Qatar’s oldest groups is choosing to stay family-run and maintain its core values Qatari Diar is turning vision into value In April of last year, news spread that Qatari Diar, the property investment arm of the national sovereign wealth fund Qatar Investment Au- thority,wassettoacquireSin- gapore’s historic Raffles Hotel – famed for its colonial grandeur – for $275 million. A favorite watering hole of literaryfiguresincludingSom- erset Maugham and Rudyard Kipling, and more recently of celebritiessuchasBeyoncéand the late Elizabeth Taylor, the Raffles Hotel was the type of signaturedealtheglobalreales- tate industry has come to ex- pect of Qatar’s premier property investor. Established in 2004 with a capitalizationof$1billionand a mandate to support Qatar’s economic diversification through quality real estate in- vestments,thecompanytoday boasts 35 projects in 20 coun- trieswithanassetvalueofmore than $40 billion. In London, some of these landmark developments in- clude the $2 billion,13-acre ChelseaBarrackscomplex,just a stone’s throw from Sloane Square, where Qatari Diar will develop2,000homesplusshops andofficebuildings.Thecom- panyalsoowns80%oftheShard of Glass tower near London Bridge, which will be Europe’s tallest building when complet- ednextyear.InNovember2010, thecompanyacquiredtheU.S. Embassy in Grosvenor Square for $664 million, with plans to transformitintoaluxuryhotel andapartments,bringingitsin- vestment in the city to nearly $5billion–afigureithassaidit hopeswillincreaseto$8billion or more. Also a 40% owner in luxury hotel chain Fairmont Raffles Hotels International (at a cost of $847 million), Qatari Diar hasacquiredtheLeRoyalMon- ceau in Paris, which it will re- open under the Raffles name after a complete remodeling thatwillconvertitintoaluxu- ry152-roomhotelwithinteri- ors by Philippe Starck. In addition to London and Paris,QatariDiar’shigh-profile global investments have ex- tendedtoThailand,Morocco, Egypt, Oman, Syria, Sudan, Seychelles, Tajikistan, Libya, MauritaniaandMauritius.And this is just outside Qatar. At home, Qatari Diar is in- volved in a number of highly significant infrastructure and property projects. The com- pany is building the new 112- storey Doha Convention CenterandTower,andinajoint venture with Deutsche Bahn, will develop the national rail- way network. Thiscutting-edge,fullyinte- grated system is the largest in- frastructure project ever undertakeninQatarandwillre- sultinthecreationofmorethan 7,000 jobs. The multibillion- dollar project will consist of variouslines,includingahigh- speed link between the New Doha International Airport, Doha City Center and the Kingdom of Bahrain, as well as the Doha Metro Network. The resulting railway system will decongest Qatar’s high- ways, raise traveler safety, and give tourism a boost. In line with its emphasis on environmentally sustain- ablecommunities,QatariDi- aristhedeveloperbehindthe $7 billion Lusail City, one of the largest and most innova- tive projects in the Middle East, which will eventually housesome200,000residents and create a sister city to the Qatari capital. The award-winning Lusail City development is undoubt- edly one of Qatar’s most vi- sionaryprojects.Aholisticcity created by Lusail Real Estate DevelopmentLtd.,asubsidiary ofQatariDiar,thedevelopment willturn13.5squaremilesofun- developed waterfront into a progressive, world-class city containingeducational,health andrecreationalfacilitieswhen fullycompletedin10to15years. LusailCitywillalsobehome to the Qatar Entertainment City, a family entertainment destination with a theme park andfivedistrictswithdifferent entertainment offers. Landmark property developments around the world carry the hallmark of Qatari Diar Looking at community investment The oil and gas industry’s pri- maryresponsibilityistodeliver affordable, reliable supplies of energywhileprotectingpeople, local communities and the en- vironment. Energy companies alsosupportlocaljobsandbusi- nesses;educateandtrainthelo- cal workforce and suppliers; transfer knowledge and skills; purchase local goods and ser- vices; and make strategic com- munity investments. TheareaofQatarissimilarin sizetothestateofConnecticut. The country has very large off- shore natural gas reserves in its North Field. Qatar’s leadership goes to great lengths to protect both the natural environment and encourage job creation for Qataris in the development of its extensive energy resources. TheGovernmentofQataris planning a corporate social re- sponsibility(CSR)indexforlist- ed companies on the Qatar Exchange.MohamedHassanal- Saadi,AssistantUndersecretary at the Ministry of Business and Trade,announcedtheindexlast year at Qatar’s Second Confer- enceonCSR.Healsoaskedthe privatesectortocommittoCSR initiativesasthecountrystrives to achieve the goals of the Na- tionalVision2030,adding,“The private sector should seriously commititselfasafullpartnerto thestandardsofcorporatesocial responsibility.”Manycompanies in Qatar are now considering publishingsustainabilityreports, including their CSR initiatives, inconjunctionwiththeirannu- al reports. Jaidah Group, a homegrown multifacetedconglomerate,has joinedforceswithReachOutTo Asiatoprovideliteracyprograms for Jaidah Group's employees. The literacy initiative aims to equip employees with knowl- edge and skills and encourages furthersupportoftheirchildren's educations. At Jaidah Automo- tive,0.5%ofproceedsfromevery Chevroletautomobilesoldcon- tributes toward the program. MohamedJaidah,CEOofthe family-ownedJaidahGroup,said, “Some employees have been with us for more than 25 years. We know our employees by name. Even though Jaidah has grown to more than 700 em- ployees, we still have a family connectionwiththem.Itcreates astrongerinternallink,whichis reflectedexternallywithoursup- pliers and clients.” Consistent with the objec- tive of being a good corporate citizen,ExxonMobilQatarplays a key role in local community programs and activities. The companysupportsvarioussec- tors of community develop- ment, such as education, environment, community ac- tion and sports. In education, ExxonMobil Qatar is the gold sponsor of the World Innova- tion Summit for Education (WISE) held in Doha. An ini- tiativeoftheQatarFoundation, WISE is based on the recogni- tionthateducationalchallenges are international. ExxonMobilQataralsosup- portsacademicprogramsatthe Qatar University and Qatar Foundation. The company is one of the main founding sup- porters of the Qatar Founda- tion Annual Research Forum. ExxonMobilResearchQataris contributing to the advance- ment of local environmental science and research manage- ment in areas of common in- terest, including marine environment, liquefied natur- algas(LNG)safety,waterreuse and modern coastal carbon- ates. In 2010, the company an- nouncedanextensionthrough 2014 of its commitment to the QatarScienceandTechnology Parkwithatotalinvestmentof more than 218 million Qatari riyals ($60 million). ExxonMobil Qatar is also a major supporter of the Social Development Center (SDC). The company has contributed to the center’s Career Coun- seling Unit, which provides skillstrainingforyoungQataris entering the job market. The unit is a development of the FirstStepProgram,whichpro- vides young Qataris with ca- reer and professional development resources. Local and multinational companies can contribute to impactful programs in a local area, region or nation At the Qatar Foundation Annual Research Forum, Dr. Fathy Saoud, president of Qatar Foundation (fourth from right), presented awards for research in program areas in- cluding biomedical, energy and environment, computing, arts, social sciences, humanities and Islamic studies GHANIM SAAD AL-SAAD, Managing Director of Qatari Diar Doha Progression I with Jaidah Tower, by artist Lisa Watson, who resides in Doha QATAR USAT 8 pages v3.qxd 29/3/11 18:01 Página 5
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  Distributed by USATODAYThursday, April 7, 201166 QATAR Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content Not too long ago, Qatar was a quietBritishprotectorateona peninsula jutting into the Per- sian Gulf. Known mainly for its pearling industry, Qatar made little waves on an inter- nationallevel.However,when the Japanese introduced the cultured pearl on the world market in the 1920s and 30s, thisbackboneofQatar’secon- omy faltered. Things then took a turn for the better, beginning in the 1940swiththediscoveryofoil. Since then, Qatar has only looked back to preserve the best of its traditions and the beautyofitsheritage.Today,it is a highly modern, cutting- edge state that is a true medi- ator in the region and plays a role in the global marketplace quite out of proportion with its geographical size. Theconsiderablewealththe oil and gas industry has creat- ed translates into a high stan- dard of living, state-of-the-art buildingsandservices,agreater participation in international sportingandculturalevents,a higher awareness of environ- mentalissues,andofcourse,a growing tourism sector. Visitors from around the world can choose to fly into Qatarononeoftheworld’sbest airlines, Qatar Airways. Win- ner of Skytrax World’s Best Business Class, Best Business Class Catering in the World, andBestEconomyClassinthe World,QatarAirwayslinksthe emirate to more than 100 in- ternational destinations with itscomfortablefleetofaircraft, whichincludes19Boeing777s. Duetogrowingrelationswith theU.S.,theairlinehasopened three direct routes to New York, Washington, and most recently, Houston. TheonlyMiddleEasterncar- rier chosen as part of the elite club of Five Star airlines (Sky- trax2009/10)andnowranked third-best in the world, Qatar Airways is also innovating fu- el efficiency. The airline has partnered with various U.S. companies, Qatar Petroleum, Airbus,andtheQatarScience and Technology Park to reach targets of zero CO2 emissions growth by 2020. QatarAirwaysoperatesout ofDohaInternationalAirport, which is currently being ex- pandedtokeepupwithcurrent and forecasted passenger and cargo traffic demands. “The existing airport’s ulti- matecapacityis12millionpas- sengers per annum only. This prompted H.H. the Emir of Qatartoissuedirectionsthatit istimeforQatartobuildnoton- ly a new airport but one of the bestintheworld,”explainsAb- dulAzizMohammedAlNoai- mi, chairman of Qatar Civil Aviation Authority (QCAA). MEDCO, a United Devel- opment Company (UDC) JV, hasleddredgingworks,which arereclaiming40%ofthenew airport’s site from the sea. Oncethefirstphaseiscom- pleted in late 2011, NDIA will have an annual capacity of 24 millionpassengersand750,000 tons of cargo. Ultimately, ca- pacities will rise to 50 million passengers, 2 million tons of cargo,andparkingpositionsfor 100 aircraft, thus ensuring Qatar’sneedsaremetthrough- out the 21st century. This expansion is huge by any standard, yet it is even more impressive taking into accountthatinthe1950s,Do- ha’ssinglerunwayreceivedjust one plane monthly. QCAA, whichhasplayedapivotalrole in all airport growth projects, also took part in establishing Qatar Airways back in 1994. More than 35,000 people have worked on building the NDIA, which will feature the Passenger Terminal – com- plete with a public mosque, a man-made lagoon, extensive areas for duty free, retail, and foodandbeverage,a100-room transithotel,loungesandmany other amenities – and the beautifullydesignedEmiriTer- minal. In the Emiri Pavilion, there will be a special area where H.H.theEmircanreceivefor- eign heads of state, minister’s quarters, VVIP quarters, and a ceremonial podium outside where an aircraft with jet- bridge may be parked. Quality underscores any visit to the fascinating emirate, from the flight there to what it has to offer Taking tourism to new heights Designed by famous architect Ieoh Ming Pei and set on its own island, the Museum of Islamic Art in Doha showcases ancient and historically significant artifacts Award-winning Qatar Airlines carried out the world’s first commercial flight on GTL fuel and currently has 19 Boeing 777 aircraft in its fleet The first phase of the New Doha International Airport (NDIA) is scheduled for completion by the end of this year and will have an annual capacity of 24 million passengers Sports for life Qatar’s participation in the worldofsportsisnearlyasim- pressive as its contribution to the global energy sector. Though geographically small, the peninsular Gulf country hasmadeitselfknownasatop destination for some of the most popular sports events of these modern times. While traditional sports, suchascamelandhorseracing and Arabian horse breeding, are still important, Qatar has hostedothereventsofamuch largerscalethathavebeenwit- nessed by millions round the world, and personally attend- ed by dozens of thousands On a broadly regional level, Qatar played host to the 2006 15th Asian Games, Asia’s own Olympic-style tournament of sports.ThefirstcityintheGulf region and only the second in West Asia to hold the games, Qatarshoneinthespotlightas theflagbearerforthewholeof the Middle East. This edition of the Asian Games was also unique in that it was the first time all 45 member nations of the Olympic Council of Asia took part. It was also the first time Eurosport broadcast the event live, meaning that Eu- rope was also able to look on. One of Qatar’s older inter- national sporting event tradi- tions is the Qatar Open, now called the Qatar ExxonMobil Open.Playedonoutdoorhard courts,thetennistournament ispartoftheATPWorldTour 250seriesandhasbeenplayed at the Khalifa International TennisComplexinDohasince 1993,whenBorisBeckertook home the trophy. Qatar also hosts the Qatar Ladies Open, also known as the Qatar Total Open. Dating back to 1998 is the QatarMasters,nowsponsored by Commercialbank (as well asDolphinEnergy,MaerskOil andExxonMobil)andhelddur- ingthefirsttwomonthsofthe year.Theprestigiousgolftour- namentisheldona7,374-yard uniqueandchallengingdesert- typechampionshipcourse,de- signedbyPeterHarradine,and is a regular stop on the Euro- pean PGA tour schedule. As world capital of gas, it is only natural that Qatar host a high-energy sport such as grandprixmotorracing.Since 2004,Doha’s$58millionLosail racetrack has been the site of the Commercialbank Grand Prix of Qatar (formerly called the Marlboro GP of Qatar). While the hot, desert condi- tions in Doha make for an ex- trachallengingrace,ayearago theraceorganizersdecidedto do something heretofore un- seen: in 2008, Qatar success- fully celebrated the first night time competition in Grand Prix history. Qatar also made history in anothersportlastyearwhenit wonthe2022FIFAWorldCup bid, marking the first time a Middle Eastern country has everbeenchosenasalocation for the planet’s most televised sporting event. “We were written off early onandnoonesawthatwehad achancetowin.Butbecauseof the millions of people who stoodwithus,wewon.Wehave workedveryhardtogettothis point,”saidSheikhMohammad binHamadAl-Thani,Qatarbid chairman, back in December. “Weacknowledgethatthere is a lot of work ahead, but we promisethatwewilldeliver.We willdeliverwithalotofpassion andmakesurethatthisisamile- stone in the history of Middle East and the history of FIFA.” From international tennis and golf tournaments to motor racing and now soccer, Qatar is gaining notoriety for a different type of energy From 12,000 to 90,000 hotel rooms by 2012 With the World Cup 11 years away,Qatarisalreadyprepar- ing for an onslaught of visi- tors with a specific plan to raise its hotel capacity from 12,000 rooms to 90,000 – 30,000 more than the capac- ity demanded by FIFA. And, withasturdynetworkoffive- star luxury hotels already in place, the industry is placing a stronger focus on develop- ing more three and four-star hotels to cater for a wider au- dience. Over 40 new hotels are ex- pectedtoopenthisyearalone, according to Ahmed Abdul- lah Al Nuaimi, chairman of QatarTourismAuthority.Oc- cupancyhasbeenconsistent- ly strong over the past few years, averaging 60% in 2010, 10pointshigherthanthepre- vious year. One of the biggest sup- porting hotels of the 2022 World Cup campaign is the Ramada Plaza Doha, whose tower was wrapped in a 600- square-yard banner back in 2009 to support the World Cup bid. The Wyndham Hotel Group chose the Ramada Plaza Doha among 140 other Ramadas as The Best Rama- da Hotel in Europe, the Mid- dle East and Africa last year. And,withits584modernand elegantly appointed rooms and suites, it is also one of the largestRamadasintheworld. Considered the place to be forwork,dining,relaxing,and staying, Ramada Plaza Doha is located in the heart of Do- ha’s shopping and commer- cial districts. It boasts 20 specialtyrestaurantsandbars, including Qube, the largest and one of the most popular nightclubs in the city. “Qatar is such a good place to be,”’ says Gordon G. MacKenzie, the hotel’s general manager. For those travelers seeking a more hip, innovative and contemporary hotel at a rea- sonableprice,Ramadaalsoof- ferstheRamadaEncoreDoha in the business district and just2.5milesfromtheairport. Both hotels are highly ser- vice-orientedandcatertothe specific needs of both busi- ness and leisure travelers. For more information, visit www.ramadaplazadoha.com Ramada’s two hotels in Doha offer modern elegance and contemporary design for both leisure and business guests Katara: living culture Realized out of a vision to es- tablish Qatar as a cultural bea- con of the Middle East, the cultural village at Katara is a world-classexhibitionspacethat has been designed to spur the participation of Qataris in cul- tural activities and encourage greater exploration of the emi- rate’s rich heritage. A true nation-building en- deavor, the $82-million project is held as a key contributor to the social and human develop- ment of the country. Builtonreclaimedcoastalland between Doha’s West Bay and ThePearl-Qatar,justtothenorth ofthecapital’scitycenter,Katara includes heritage centers, li- braries, art galleries and other academic facilities, in addition to retail outlets, coffee shops, museum facilities and market areas. Katara had a soft opening in October 2010 during the Doha Tribeca Film Festival (DTFF). AccordingtoMarcioBarbosa, managingdirectorofKataraand former joint director at UN- ESCO, the cultural village has the challenge of, on one hand, preservingthetraditionsandhis- toric values of the country and, on the other, “offering cultural opportunities” – modern ones throughdifferentmanifestations, like music, art, theater and cin- ema,amongothers.“Theideais toshowthat,inculture,thecoun- tryhasastrategyofcoexistence of the ancient and the new,” he said in an interview last year. ManyQatariorganizationsal- readyhavetheirofficesatKatara, includingtheQatariSocietyfor Engineers, Qatar Fine Arts So- ciety, Visual Art Center, Qatar Photographic Society, Child- hoodCulturalCenter,DohaFilm Institute, and the Qatar Music Academy. The 247-acre cultural village features a massive open am- phitheater,operahouse,cinema thatcandoubleasadramathe- ater,amultipurposehall,beach, handicrafts souq, book market, international restaurants and cafes, and ample space for visi- tors to stroll around the differ- ent areas of the project. The themed restaurant area haseateriesthatareexclusiveto the Middle East and Katara’s minaret center is based around three towers, one of which – a hotel – will be Qatar’s tallest. Set in a beautiful location, the purpose-built cultural village of Katara has already hosted various high-profile events and spurred many Qatari organizations to set up there Qatari Olympic athletes competing during the 2008 Beijing Olympic Games The Ramada Plaza Doha is well positioned to support the growing numbers of business and leisure visitors frequenting Qatar or holding large events in the capital city Sheikh Saoud Bin Abdulrahman Al Thani, Secretary General of QOC Ahmed Al Nuaimi, Chairman of Qatar Tourism Authority Abdul Aziz Mohammed Al-Noaimi, Chairman of Qatar Civil Aviation Authority QATAR USAT 8 pages v3.qxd 29/3/11 17:49 Página 6
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  Distributed by USATODAY Thursday, April 7, 2011 77 QATAR Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content Arabian mystique combines seamlesslywithMediterranean luxuryinThePearl-Qatar,UDC’s mostspectacularlyinvitingpro- jecttodate.RisingoutofDoha’s WestBayonaseriesofartificial islandscraftedthroughingenious engineering and daring vision, ThePearl-Qataroffersresidents andvisitorstheultimateluxury, culturalandlifestyleexperience. Twentymilesofbeachesand seafront, three world-class marinas, high-end retail and restaurants,andofcourse,top- of-the-linehotels,villas,town- housesandcondominiumsare allencompassedinafirst-of-its kinddevelopmentthatexudes old-world charm while dou- blinguponthebestinmodern living. Everythingfromthedredging andcreationoftheislandstothe constructionofthemagnificent edifices, the environmentally friendly district cooling system andwastemanagement,andthe financialmanagementofthepro- ject has been taken care of by UDC’s various subsidiary com- panies and partners. And only thecremedelacremeareinvit- edtotakepartinthiswondrous Gulf venture. For example, along La Croisette,theworld’slongestwa- terfrontluxuryretailboardwalk, one will find select boutiques andshopssuchasRobertoCav- alli, Hermès, Bisazza and Har- mont & Blaine, or outstanding restaurantslikeBiceRistorante, Pampano, Tse Yang, Burj Al Hamam and Liza. PortoArabia,theisland’sfirst completedandinhabitedphase, is home to an award-winning 782-berth marina, managed by UDC subsidiary Ronautica. Here, visitors can dock their yachts of up to 100 meters and stepashoretoenjoythebestThe Pearl-Qatarhastooffer,orsim- ply call upon any of the island’s restaurantsorcafésforanorder togo.Ronautica’spremiumser- vicesalsoincludeyachtsalesand maintenance, and last year the company organized boat exhi- bitionsincoordinationwiththe numerousretail,hospitalityand entertainmenteventshostedat the island. ThePearl-Qatarisalsounique in that it was the first develop- mentinthecountrytoofferfree- hold and residential rights to international clients. And once the island masterpiece is com- pleted, there will be more than 18,800 residential dwellings – a true green boon to Qatari tourism and business. “Developments such as The Pearl-Qatarwillgoalongwayto- wards fulfilling H.H. the Emir’s vision to make Qatar a destina- tion of choice for businessmen andtouristsalike,”saysMr.Sholy. “Youwillenduplivingonanis- land that is not only giving you life’s pleasures, but you will also have the pleasure of knowing that it’s extremely environmen- tally friendly.” Eleven years ago, what would soon become one of Qatar’s most ambitious, visionary and successful private sharehold- ingcompanieswasborn.Unit- ed Development Company, or UDC,wascreatedtohelpgrow thecountry’seconomyandcon- tribute to fulfilling the Emir’s goalofconvertingQatarintoa leading country by 2030. UDC has excelled at its mis- sion to identify and invest in long-termprojectscontributing to Qatar’s growth and provid- inggoodshareholdervalue.In- deed, when the 2010 results were in, UDC’s net profits had swelled 20%, approaching QR617 million ($169 million) and net earnings grew by 18% toQR4.45pershare.Thiscame after an unprecedented 73% spike in net profits and a 62% increase in earning per share in 2009. 2010 was UDC’s best year everandfifthconsecutiveyear of record results. Hussain IbrahimAlfardan,chairmanof theboard,attributesthistothe outstanding performance of UDC’s many subsidiaries and partnerships, which are active in an extraordinarily diverse range of sectors. Khalil Sholy, president and managing director, says, “We are an umbrella of successful investments. If we look at the companies that UDC has es- tablished and created they are really varied in their activities. From environment to utilities, hydrocarbon,hospitality,retail, media,andinsurance,wehave diversified to cover many sec- tors, and the ball is still grow- ing. So if you are interested in this very robust economy, an economythathasbigpotential forthefutureandyouarelook- ing for a partner to go with, a partnerthatiswellestablished, UDC will give you a chance to catch up on all of these oppor- tunities.” ThroughitscompanyQatar Cool, UDC has established it- selfasagloballeaderintheen- ergy and utilities sector, and through its other subsidiaries and partnerships – especially those related to flagship pro- ject The Pearl-Qatar – UDC hasmadeanenormouscontri- bution towards diversifying Qatar’s economy and attract- ing new kinds of investment. Qatar’s election as World Cup 2022 host brings myriad newopportunities,uponwhich UDC fully intends to capital- ize.Fromdistrictcoolingtoce- mentproductionfornewhotels and real estate projects, UDC ismorethanreadytotacklethe challenges ahead. “The companies created by UDC have more potential be- cause they are all linked to growth and everybody agrees that 2022 is bringing huge op- portunities of growth – a growth that has already been planned,”saysMr.Sholy.“Now whatwillhappenisthatinstead of doing it in let’s say 20 years, now they have to do it in 10 years, so the potential is even greater.Ofcoursetherearechal- lenges, but this country has proven its ability to meet the challengesitaimsat:lookatthe milestoneofthe77milliontons of gas production capacity – theyannounceditandachieved it in 2010 like they said they would. “TheWorldCup2022isgood news for everyone and espe- ciallyforusbecausewewillsee high returns for all these com- panies.Weareinvolvedinevery sector that exists. Our vision now is to continue to expand ourhorizonsandbecomemore creativeandmoreinnovative,to look and identify other oppor- tunitiesthatwebelievewillplay an important role towards the development of the country.” Backedbyaboardwithsome of the most influential busi- nessmen in Qatar, an 11-year history of growth, ample liq- uidity, partnerships with lead- ing international players, and seemingly endless inspiration for the future, UDC is truly shaping Qatar into one of the world’smostattractiveandsta- bledestinationsforbothvisitors and investors. UDC embodies Qatar’s opportunities KHALIL SHOLY, President and Managing Director of UDC The company has identified and pursued some of the country’s most exciting projects in a wide range of sectors Qatar’s heritage manifested Qatar Cool opens world’s largest plant The Pearl-Qatar is a bold real estate project that blends Qatar’s culture and splendor with Mediterranean glamour The Qatar District Cooling Company, known as Qatar Cool,isbehindthelargestdis- trictcoolingplantintheworld. The plant, located at UDC’s iconic multibillion-dollar off- shoredevelopmentThePearl- Qatar,hasacapacityof130,000 tonsandservesaround40,000 residents through a 55-mile networkofundergroundpip- ing.Thecompanyalsohastwo other plants connected to 17 milesofpipesunderWestBay, the financial district of Doha, serving 47 high-rises. “This is the first time this has been done in Qatar,” says FayadAlKhatib,CEOofQatar Cool.“Wehavebeenveryfor- tunate to share technologies withotherprovidersandtech- nologydevelopersalloverthe world,whichenabledustode- velopprojectsoverthescalewe do.Wefaceauniquechallenge here as we have to develop larger-scaleprojectscompared to other parts of the world.” District cooling provides chilled water from a cooling plant through a network of pipestomultipleresidential,in- dustrialandcommercialbuild- ings for air conditioning use. Compared to conventional coolingsystems,districtcool- inguses40%to60%lessener- gy.“Wesaveabout250million tonsofcarbondioxideayear,” saysMr.AlKhatib.“Theequiv- alent of trees planted out of our energy saving are about 35 million trees annually.” Qatar Cool won two in- dustry awards in the U.S. at the International District En- ergyAssociation(IDEA)con- ferencelastyearforitsenergy saving efforts. “Wearesettingbenchmarks intermsofapproachingsolu- tions,” says the CEO. “We are gaining a lot of ex- periencelocallyandasaresult wecanbeamajorexporterof technologyandknow-howin the future.” HERE, VISITORS AND RESIDENTS CAN ENJOY WORLD- CLASS DINING, SHOPPING AND ACCOMMODATIONS WITH STATE-OF-THE- ART FACILITIES PORTO ARABIA’S 400- SLIP MARINA, SURROUNDED BY ELEGANT RESIDENTIAL TOWERS, IS DESTINED TO BECOME A CRUISING BASE FOR THE ENTIRE REGION Rising elegantly from Doha’s West Bay, The Pearl-Qatar offers an unsurpassed lifestyle experience District cooling is an environmentally sustainable solution to air conditioning needs and Qatar Cool’s efforts in the sector are breaking new ground Qatar Cool’s record breaking plant is connected to 55 miles of underground piping that helps to keep 40,000 TPQ residents in air-conditioned comfort QATAR USAT 8 pages v3.qxd 29/3/11 18:56 Página 7
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