atar will build an “Energy City” which its developer says will raise the global stakes of the Middle East’s energy sector, reshape the dynamics of its oil and gas business and expand its role in the management of above-ground resources.

Qatar-based Al Addiyar Real Estate Investment announced it had signed an agreement with Gulf Energy to develop the city, which will incorporate a shipping and trading component.
Al Addiyar is a Government of Qatar-owned firm with a capital of $1 billion.  Gulf Energy is a global consortium of leading energy consultants, researchers and academics whose responsibility would be to develop technical and marketing strategies.
Positioned as the first-ever integrated, energy hub in the region, the multi-billion dollar Energy City will significantly enhance the Gulf region’s ability to capture critical revenue streams from hydrocarbons and act as a nucleus for the core elements of the vertical section of the Middle East’s oil and gas industry, an Al Addiyar spokesman said.
Commenting on the project, the company’s chief executive Nassser Hassan Al Ansari said: “According to the master plan, Energy City will function as a nerve centre of global oil and gas business in the Middle East by attracting the biggest players in the hydrocarbon value chain. It will consolidate markets, R&D, technology, education, training and finance under roof, promoting cooperation at both commercial and technical levels. The development will also offer opportunities for real estate investment in hotels, exhibition halls and malls.”
He said under the terms of the MoU, the construction of the project would begin in the third quarter of this year.
Al Ansari described the project as a pioneering initiative that would take the Middle East much beyond its role of just controlling over half of the world’s oil and gas reserves. It would place Qatar on the world energy map, joining the league of other key energy centres like Calgary, Singapore, Houston, Stavangar and Aberdeen.
“The multi-billion-dollar Energy City will revolutionise the oil and gas sector in the Gulf. It will house an integrated complex where international and state-owned oil companies and service providers will base their operations. Energy City will also integrate crucial asset classes such as high-tech data, infrastructure, communications and advanced management,” Ansari said.
He explained that Energy City would also have a shipping and trading component which could be housed anywhere in the Gulf and still be part of the city thus reinforcing its regional character. It would host the Gulf Mercantile Exchange (GMEX), trading rooms, brokerage offices and a base for shipping and logistics.
The intellectual and technology cluster will form the heart of Energy City. Its Core Research Lab and Data Centre will form a crucial area comprising a main research laboratory linked to a geology and geophysical analysis facility as well as facilities for research on the environment, renewable energy and regulatory policies. An exclusive Education & Training Centre will be set up in collaboration with Imperial College, Texas; A&M and IFP, with regional affiliations.
A Service Industry Satellite will serve as a base for the oilfield services industry comprising drilling, service, EPC contractors, offshore suppliers and seismic companies. An Infrastructure and Downstream Satellite will house downstream companies.