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Qatar invites closer economic ties with South Korea

Qatar invites closer economic ties with South Korea

Seoul: South Korean companies are well positioned to benefit significantly from Qatar's plans to invest more than $130bn in infrastructure over the next five years particularly in the oil and gas sector, said Qatar's First Deputy Premier and Foreign Minister HE Sheikh Hamad bin Jassem bin Jabor Al Thani at an economic forum in Seoul today. "There is still room, particularly for South Korean companies, to join in exploration and production, refining and transportation," he told delegates, pointing out that Qatari businessmen are keen on South Korean know-how and capital. Qatar already supplies South Korea with more than a quarter of its LNG requirements and plans to become the world's largest LNG exporter by 2012. Exports are forecast to rise from 25m tonnes last year to 77m tonnes by that date. Last year, trade between Qatar and South Korea totalled about $6.7bn.  [01/02/07]

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