Monique Hitchings

from the editor-in-chief

Global Energy Hubs Unite

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While the first quarter of 2009 is turning out like most analysts and financiers feared – given the spiraling economy, project shutdowns or stalls, and tightening of purse strings – it won’t last forever and tides always change, although perhaps not as quickly as we may like.

A lot of companies in all business facets are facing cutbacks, layoffs and budget restrictions, but many agree this is a time of change. U.S. President Barack Obama believes it is, making the strong assertion during his January swearing-in ceremony that “the world has changed, and we must change with it … [The United States] has been a quiet force throughout history. What is required of us now is a new era of responsibility.”

In this new era, we must be more aware – of climate change, energy efficiencies, petroleum-based product use, new technologies, supply and demand, costs, incentives – and we must be willing to adapt. In all the doom and gloom, this is not necessarily a bad thing; it’s a time for thinking outside the box, investing in new ideas and initiatives, and working together to ensure our businesses continue to move forward at a strong pace backed by the resources to make it grow stronger.

That’s the approach Qatar Airways officials are taking as they launch their third non-stop, U.S. to Doha route, adding Houston, Texas, at the end of March 2009. The other two routes connect direct from New York’s JFK International Airport and Dulles International Airport out of Washington, D.C.

“Qatar Airways is a global network carrier and will continue to tap into opportunities in key business cities around the world. Therefore, Houston is the launch in March,” said Chief Executive Officer Akbar Al Baker during a January press conference in Qatar.

Qatar has the third-largest gas reserve in the world (400 Tcf) – behind Russia (1,695 Tcf) and Iran (929 Tcf) – which makes it ideal for a consortium of companies working with Qatar Airways to research gas-to-liquid technology with a 50/50 kerosene mix for jet fuel. Baker said he hopes the fuel is available by the end of 2009.

I recently had the pleasure of traveling to Qatar’s capital city of Doha. I made new friends, went on a camel ride, rode over giant sand dunes in a jeep, saw Saudi Arabia from Qatar, ate new foods, learned about local refinery and gas projects, toured the Museum of Islamic Art, visited Education City and went to Souk Waqif (the city’s market).

It is a city under construction – nearly literally. A very small portion of projects under way include the Qatar-Bahrain “Friendship” Causeway (25 to 28 miles – 40 to 45 km – long), which will employ 2,000 workers and cost about US$3 billion; a new state-of-the-art international airport; the “Pearl of the Gulf” man-made island project at $2.5 billion; uniquely designed office buildings; a new convention center; and a variety of gas related plants.

Qatar is a city of modernism, innovation, culture and investment. From the Qatar Financial Centre to the studios of Al Jazeera to the city’s port expansion, new roads and more; Qatar is growing and becoming a significant contender for energy in the future.
Until next time, have a safe journey, wherever it may take you.

—Monique A. Hitchings
MHitchings Sig
mhitchings@hartenergy.com