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Qatar
Sunday, March 18, 2001
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Qatar has pledged to deposit $60 million with the Central Bank of Lebanon; the deposit is for ten years and is at a Libor interest rate of 4.4%. Prime Minister Rafic Hariri was informed of the decision amid a two-days visit to Qatar where he held discussions with Emir Sheikh Hamad ben Khalifa Al Thani, and his counterpart, Prime Minister Sheikh Abdallah ben Khalifa Al Thani and other high Qatari officials.
The Qatari leadership made clear its readiness to offer Lebanon a most competitive price in a possible long-term gas deal that would provide Lebanon with 1.5 million tons of liquefied natural gas, the amount comprises half of Lebanon’s needs.
The consortium Total-Elf, the strategic partner to Qatar Gas, has informed both Lebanon and Qatar that the cost of building a liquefied natural gas refining station in Lebanon can be done within three years and at a much lower cost given the latest technology advances. The minister for Energy and Resources Mr. Mohammed Abdel Hamid Baydoun and technical consultants accompanied Prime Minister Hariri on the trip.
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