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Qatar, China sign memorandum on energy cooperation
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Qatar and China signed a memorandum on promoting bilateral energy cooperation on Sunday.

The document was signed in Doha by Zhang Xiaoqiang, vice chief of the State Development and Reform Commission of China, and Qatari Deputy Prime Minister and Minister of Energy, Industry, Electricity and Water Abdullah Bin Hamad Al-Attiya.

Speaking to reporters after the signing ceremony, Al-Attiya said that Qatar attaches great importance to its relations with China and especially bilateral cooperation in the energy field.

He believed the signing of the memo would significantly boost both countries' mutual investment in the energy sector.

For his part, Zhang said that China, as a populous nation, has a huge demand for petrochemical products and relies heavily on imports to fill the gap between domestic demand and its own output.

China not only hopes to develop oil and natural gas trade with energy giants like Qatar but also welcomes those countries to set up petrochemical enterprises in China, he said.

Qatar is a small nation in the Gulf region with a population of 300,000. It is a member of the Organization of the Petroleum Exporting Countries (OPEC), with a daily oil production of 800,000 barrels.

In comparison with oil, Qatar has more abundant natural gas reserves, estimated at 25 trillion cubic meters and ranking the third largest in the world.

(Xinhua News Agency March 3, 2008)

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