The Crown Prince of Qatar Shaikh Tamim bin Hamad Al Thani laid the foundation stone for the Pearl Gas to Liquids (GTL) project, a world-scale integrated project that will make Qatar the GTL capital of the world.
Pearl GTL is not only the world's largest integrated GTL project, but also the largest energy project ever launched within the borders of Qatar.
The ceremony at Ras Laffan Industrial City was attended by dignitaries including Prince Charles, the Chief Executive of Royal Dutch Shell plc, Jeroen van der Veer, and visitors from Qatar and abroad.
The Pearl GTL project is being developed under a Development and Production Sharing Agreement with the government of the State of Qatar. The agreement covers offshore and onshore project development and operations, with Shell providing 100 per cent of project funding, said an official spokesman.
Upstream some 1.6 billion cubic feet of wellhead gas will be produced, transported and processed per day to produce 120,000 barrels of oil equivalent per day of condensate, liquefied petroleum gas and ethane.
Downstream dry gas will be used as feedstock to produce 140,000 barrels per day of clean, high quality GTL fuels and products. The Pearl GTL project is expected to produce some 3 billion barrels of oil equivalent wellhead gas over the period of the Development and Production Sharing Agreement.
A total of $10 billion of contracts have already been awarded for the project, including all major engineering, procurement and construction contracts. Construction began in the third quarter of 2006.
'GTL represents a strategic diversification for Qatar in the development of our natural gas resources. In line with the wise vision of His Highness Shaikh Hamad Bin Khalifa Al-Thani, Emir of the State of Qatar, we intend to make Qatar the GTL capital of the world. Pearl GTL is a major part of that endeavour and I am pleased that with our partners Shell we have reached this milestone,' said second deputy premier and Minister of Energy and Industry of Qatar Abdullah Bin Hamad Al Attiyah.
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