Qatar To Invest US$6.6bn In New LNG Infrastructure

Qatar and Greece have signed a Memorandum of Understanding (MoU) that paves the way for US$6.6bn of Qatari investment in Greece's energy infrastructure, including the construction of a new liquefied natural gas (LNG) terminal and the subsequent export of Qatari LNG into the south-east European market. The deal was announced after a meeting between Qatar's Prime Minister Sheikh Hamad al-Thani and his Greek counterpart in Athens on May 3 2010, and highlights the Gulf state's attempts at locking in export destinations for its LNG in Europe given the weak state of the US LNG market.

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