Middle East Economic Survey

VOL. XLVIII

No 21

23-May-2005

Qatar Cautious On GTL Development Timings As EPC Costs Soar 40-50%

Bill Farren-Price reports from London.

A rise of 40-50% in engineering, procurement and construction (EPC) costs, caused by spiraling steel and other raw material prices and general under-capacity within the sector, has forced Qatar to put the brakes on the three of its most recently planned gas-to-liquids (GTL) projects, according to Qatar Petroleum (QP) Director of...