10 RasGas MAGAZINE
There has been no single hub for the energy business in
the Middle East – until now. Qatar’s Energy City will be the
centre of the oil and gas business for the region and will
establish Qatar as the nucleus of activity in the sector. Do
you know how many banks there were in Bahrain before
they built a financial centre? Just two. Now there are over
400. It’s a financial hub for the region in the same way that
we will be for the energy industry. Look also at Media City
in Dubai, which is so much in demand that they are building
a second city.
Houston in the United States, Calgary in Canada and
Aberdeen in the United Kingdom have all become important
business centres for oil and gas. However, they have been
outgrowths from the industry situated in the area. In Qatar
we are creating something completely new, from the
ground up and specifically tailored for the sector based on
industry needs.
I believe in the power and strength of personal contact
when conducting business. With new technology we can
now do business from our own homes with places all over
the world, but in my experience nothing surpasses the
power of face-to-face communication. Energy City will
allow our international business colleagues to establish a
physical presence in Qatar, enabling smoother and more
efficient business transactions.
Diversifying the economy
The huge reserves of oil and gas are the foundation of our
country’s wealth but, as we know, in order to maximise the
return on investment of that capital, we need to diversify
as an economy. The vision of HH Sheikh Hamad Bin Khalifa
Al Thani, the Emir of Qatar is to integrate energy closely
with other sectors. We can already see that the Qatar
City
of the
future
Energy City is a new business hub in
Lusail, near Doha, that will bring the global
hydrocarbon industry together in a high-
tech, purpose-built free trade zone. Hesham
AbdulRahman Al Emadi, the CEO of Energy
City, reveals its strategic importance for the
oil and gas sector, and fo