*‘Tawteen’ to raise GDP by 1.6%; offers 100 investment opportunities in Qatar’s energy sector
The country’s GDP is expected to increase by 1.6% from Qatar Petroleum’s (QP) localisation programme ‘Tawteen’, which was launched Monday by HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani.
The country’s GDP is expected to increase by 1.6% from Qatar Petroleum’s (QP) localisation programme ‘Tawteen’, which was launched Monday by HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani.
Similarly, the Prime Minister also launched Monday Tawteen’s website, which serves as an “important link” to the various components of the energy sector’s supply chain.
Tawteen is QP’s ‘Localisation Programme for Services and Industries in the Energy Sector’, which aims to enhance the localising of the sector’s supply chain and expand Qatar’s small and medium-sized enterprises (SME) base.
The launch was also part of a dedicated two-day conference and exhibition held with a large participation of official bodies and entities, energy sector companies, and a wide spectrum of service providers and supporting industries.
Activities during the event, which concludes Tuesday, were designed to present a unique opportunity for private sector companies to know more about the initiative, and about the incentives it offers to guarantee effective participation in the energy sector’s supply chain and to generate high quality job opportunities.
In a speech, HE the Minister of State for Energy Affairs Saad Sherida al-Kaabi, who is also the president and CEO of QP, said Tawteen is part of QP’s “dedicated efforts for the advancement of our country under the leadership of His Highness the Amir Sheikh Tamim bin Hamad al-Thani.”
Al-Kaabi also listed QP’s efforts to optimise Qatar’s natural resources, achieve higher efficiency and returns, as well as growth and expansion.
He also highlighted QP’s recent decisions and achievements, which included cutting operational cost by QR4bn annually, adopting a strategy to raise QP’s production output from 4.8mn to 6.5mn barrels of oil equivalent per year, raising Qatar’s LNG production from 77 to 110mn tonnes per year by 2024.
Al-Kaabi also discussed the development of a new world-scale Petrochemicals Complex with the largest ethane cracker in the Middle East and QP’s most recent decision to invest more than $10bn in the Golden Pass LNG export facility in Sabine Pass, Texas.
“As part of our national duty to develop the industry in Qatar and to promote self-reliance, we saw the need to localise many of the supporting industries in our sector to help enhance our independence as well as support the private sector through Tawteen. This programme provides local alternatives to exports with a value of between QR8bn and QR9bn a year, which would raise GDP by about 1.6%,” al-Kaabi said.
According to al-Kaabi, Tawteen’s first component is the creation of 100 new investment opportunities within the energy sector. Through this, QP and its companies will offer incentives and offtake guarantees, according to the programme’s guidelines.
The second component, al-Kaabi said, is an in-country value policy, which rewards suppliers and contractors who execute their contracts and agreements by maximising local content.
Fifteen major companies in Qatar’s energy sector are taking part in Tawteen, and are expected to extend greater support to the oil and gas industry. This would also reinforce Qatar’s position as a leading, reliable, and trustworthy supplier of clean energy and high quality hydrocarbon products to the world.
Tawteen is QP’s ‘Localisation Programme for Services and Industries in the Energy Sector’, which aims to enhance the localising of the sector’s supply chain and expand Qatar’s small and medium-sized enterprises (SME) base.
The launch was also part of a dedicated two-day conference and exhibition held with a large participation of official bodies and entities, energy sector companies, and a wide spectrum of service providers and supporting industries.
HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani during the launch ceremony of Tawteen. Joining him are Qatar Businessmen Association chairman Sheikh Faisal bin Qassim al-Thani and HE the Minister of Finance Ali Sherif al-Emadi.
Activities during the event, which concludes Tuesday, were designed to present a unique opportunity for private sector companies to know more about the initiative, and about the incentives it offers to guarantee effective participation in the energy sector’s supply chain and to generate high quality job opportunities.
In a speech, HE the Minister of State for Energy Affairs Saad Sherida al-Kaabi, who is also the president and CEO of QP, said Tawteen is part of QP’s “dedicated efforts for the advancement of our country under the leadership of His Highness the Amir Sheikh Tamim bin Hamad al-Thani.”
Al-Kaabi also listed QP’s efforts to optimise Qatar’s natural resources, achieve higher efficiency and returns, as well as growth and expansion.
He also highlighted QP’s recent decisions and achievements, which included cutting operational cost by QR4bn annually, adopting a strategy to raise QP’s production output from 4.8mn to 6.5mn barrels of oil equivalent per year, raising Qatar’s LNG production from 77 to 110mn tonnes per year by 2024.
Al-Kaabi also discussed the development of a new world-scale Petrochemicals Complex with the largest ethane cracker in the Middle East and QP’s most recent decision to invest more than $10bn in the Golden Pass LNG export facility in Sabine Pass, Texas.
“As part of our national duty to develop the industry in Qatar and to promote self-reliance, we saw the need to localise many of the supporting industries in our sector to help enhance our independence as well as support the private sector through Tawteen. This programme provides local alternatives to exports with a value of between QR8bn and QR9bn a year, which would raise GDP by about 1.6%,” al-Kaabi said.
According to al-Kaabi, Tawteen’s first component is the creation of 100 new investment opportunities within the energy sector. Through this, QP and its companies will offer incentives and offtake guarantees, according to the programme’s guidelines.
The second component, al-Kaabi said, is an in-country value policy, which rewards suppliers and contractors who execute their contracts and agreements by maximising local content.
Fifteen major companies in Qatar’s energy sector are taking part in Tawteen, and are expected to extend greater support to the oil and gas industry. This would also reinforce Qatar’s position as a leading, reliable, and trustworthy supplier of clean energy and high quality hydrocarbon products to the world.