Qatar, with ambitions to be the world's largest producer of liquefied natural gas (LNG), kicked off a conference here Sunday bringing together major global players in the industry.
"We in Qatar are forging ahead on the road to industrial development according to a carefully studied strategy which will be the basis of the projects that we establish and the international partners that we choose," said Qatar's Emir Sheikh Hamad bin Khalifa al-Thani who inaugurated the 14th International Conference and Exhibition on LNG that will run until Wednesday.
Developing the emirate's gas sector was "one of the most important national priorities," he said.
Energy Minister Abdullah bin Hamad al-Attiyah said Qatar has earmarked 30 billion dollars in the near term for investment in LNG production, port expansion, and the building of huge sea carriers to transport LNG and receiving terminals in consumer countries.
Algerian Energy Minister Chakib Khelil highlighted the promise for growth in LNG consumption in markets such as North America, China and India.
But he warned this growth is threatened by unilateral moves in consumer countries to liberalise their gas markets by switching to spot pricing rather than long-term contracts, as the European Union did a few years ago.
"We consider with other producing countries that the change of the legal framework governing the gas markets should be done through consolations and implemented progressively.
"Dialogue is the best means to achieve this objective while preserving the stability of the commercial transactions."
Top executives from the BG (British Gas) Group, Shell and Total were to attend later Sunday working sessions on creating new market and commercial opportunities for LNG.
Japan and South Korea are currently the biggest consumers for LNG followed by France and Spain.
Qatar, which boasts the world's third largest gas reserves, is aiming to ramp up annual production of LNG to 60 million tonnes by 2010 from the current rate of 18 million tons, according to Attiyah.
Since December the tiny Gulf emirate has signed deals worth about 17 billion dollars with the likes of ExxonMobil, Royal Dutch Shell and ConocoPhillips to build LNG plants at the Ras Laffan industrial complex 80 kilometre's (50 miles) north of Doha.
Qatar's North Field is the world's biggest natural gas field, with proven reserves that were increased threefold last May to 25.5 trillion cubic meters (900 trillion cubic feet).
LNG is natural gas that has been cooled to about minus 260 degrees Fahrenheit (minus 162 Celsius).
It is composed mainly of methane and takes up about one 600th of the volume of natural gas found at the stove burner tip and weighs about 45 percent as much as water.
In addition to its smaller storage requirements, LNG has been touted as an efficient and environment-friendly fuel for large transport vehicles.
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