Middle East Economic Survey
QP, Shell Overcome Cost Concerns To Launch Pearl GTL Project
Qatar Petroleum (QP) and Shell on 27 July announced the launch of the integrated Pearl GTL project, overcoming the sharp cost hikes that had threatened to derail the project (MEES, 15 May). Cost estimates for the project rose from $5bn in early 2005 to over $10bn mainly due to the shortage of contractors and the rising cost of raw materials. This prompted a general rethink by...