OREANDA-NEWS. On June 29, 2007 during a recess at the annual General Shareholders Meeting, Dmitry Medvedev, First Deputy Prime Minister of the Russian Federation, Chairman of the Gazprom Board of Directors met with Abdullah Bin Hamad Al-Attiyah, Deputy Prime Minister, Minister of Energy and Industry, Chairman of the Qatar Petroleum Management Committee, reported the press-centre of Gazprom.

The meeting examined the situation on the world energy markets as well as the progress with cooperation development between Gazprom and Qatar in the energy sector. The parties stressed the crucial importance of said partnership.

The meeting pointed to a high cooperation potential between Gazprom and Qatar Petroleum on the world markets. In particular, the parties positively evaluated the cooperation prospects between the companies as well as a possibility of jointly executing investment projects.

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Being the third largest country after Russia and Iran in natural gas reserves, Qatar’s proved gas reserves account for 25,8 tcm.

In late 5 years Qatar has significantly built up its domestic natural gas production and reached 43,5 bcm in 2006. All natural gas production in Qatar is carried out at the North field on the Continental Shelf close to the Iranian border. Domestic natural gas consumption is at 16 bcm and mainly used for electric power generation.

Qatar Petroleum is the state owned monopolistic company in the oil and gas sector.

Qatar’s role at the global natural gas markets is growing up, mostly due to LNG production development and its export to the key world markets such as Europe, Asia Pacific Region and North America.