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South Africa Seeking Qatar Investments in Its Gas Infrastructure

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South Africa Seeking Qatar Investments in Its Gas Infrastructure $16BN DEAL | Page 3 $22BN BUY | Page 11 Walmart to Liberty deal buy 77% to reshape of Flipkart Europe Thursday, May 10, 2018 Sha’baan 24, 1439 AH PRESTIGIOUS AWARD : Page 12 Commercial Bank GULF TIMES recognised by Visa for leading e-commerce BUSINESS growth in Qatar South Africa seeking International reserves of Qatar investments in Qatar seen its gas infrastructure touching By Peter Alagos Business Reporter $16.8bn by ’20 outh Africa, which plans to in- By Pratap John its compliance obligations with the crease its gas usage from 3% to Chief Business Reporter Opec oil-cap agreement, and the S23%, is seeking Qatari invest- country was hit by the Saudi-led eco- ments to roll out its gas infrastructure nomic blockade.” plan for its energy requirements, am- atar’s international reserves The report said in the January-to- bassador Faizel Moosa has said. are expected to reach $16.8bn March period, the merchandise trade Moosa accompanied a South Afri- Qby 2020, FocusEconomics surplus grew nearly 50% compared to can delegation whose members met said and noted that the country’s the same period last year. with Qatar Chamber offi cials led by economy is growing faster now com- “Despite the blockade, Qatar still vice chairman Mohamed bin Towar pared to 2017 with a stable outlook. supplies almost a third of the world’s al-Kuwari in a business meeting at the The country’s international re- LNG. In the fi rst months of this year, Chamber’s headquarters yesterday. serves totalled $13.8bn in 2017, ac- that strong market share once again “We want to improve trade rela- cording to FocusEconomics. This supported the country’s external sec- tions with Qatar, and this meeting year, it may touch $16.6bn, $19.3bn in tor position,” FocusEconomics said. with the Chamber is an opportunity 2021 and $21.7bn in 2022. for us to do that,” Moosa told reporters In 2018, the country’s international FocusEconomics said so far on the sidelines of the meeting. reserves may cover 6.1 months of im- this year, Qatar economy has Figures provided by the Chamber ports, 5.6 months in 2020, six months shown “signs of improvement” revealed that trade volume between in 2021 and 6.4 months in 2022. compared to last year, when it Qatar and South Africa stood at The country’s merchandise trade grew at the slowest pace since QR361mn in 2017. Both al-Kuwari and balance is expected to exceed $47.5bn 1994 Moosa agreed during the meeting that in 2022. This year, Qatar’s merchan- both countries have the potential to dise trade balance may reach $42.7bn, Meanwhile, taking advantage of increase trade relations in sectors like $43.8bn (2019), $44.9bn (2020) and favourable conditions for emerg- food processing, agro-technology, $46.2bn (2021). ing market debt, Qatar raised money automotive, construction, and en- Qatar’s GDP is expected to exceed from the international bond markets ergy, among others. $176bn this year, $186bn (2019), for the fi rst time since 2016 in April, “We consider this country as a Al-Kuwari receives Moosa and his accompanying delegation during a business meeting held in Doha yesterday. $196bn (2020), $206bn (2021) and netting $12bn. potential investor into South Africa, $217bn (2022). It said “higher oil prices, economic particularly in the oil and gas sectors Moosa told Gulf Times, “We fi rst need stand that South Africa also off ers a “We have huge commodities and I GDP per capita may account for reforms and the government’s infra- where we will be increasing our gas to create the infrastructure that is why good haven for investments, so then think the opportunity is in the value $63,407 this year, $66,107 (2019), structure investment push in prepa- usage from 3% to 23%, so we do be- we are pushing on with the Qataris to they could get a good return on their add; in South Africa, we export all our $69,464 (2020), $72,998 (2021) and ration for the FIFA World Cup 2022 lieve that Qatar can play a big role to come and set up some of the receiv- investments. commodities in raw form, and we see $76,718 (2022). should support the economy this roll out our gas infrastructure for the ing terminals and then we will be able “It is our intention to bring our a lot of job creation and value add if Current account balance is pro- year.” energy requirement,” Moosa stressed. to import more LNG because at the Minister of Energy in the foreseeable we do the processing locally and ex- jected to be 4.8% of the country’s Nevertheless, the report said the The ambassador said while South moment the infrastructure is the big future and to take a high profi le busi- port the fi nished product. And we’re GDP this year, 4.4% in 2019, 4.5% blockade will “continue to weigh on” Africa is getting its gas requirements problem.” ness and government delegation from hoping that we can attract Qataris to (2020), 4.5% (2021) and 4.6% (2022). the outlook. from Mozambique, the country has He also said South Africa wants to Qatar to South Africa. The invitation come and forge joint ventures with Qatar’s public debt (as a share of FocusEconomics panelists forecast plans to import LNG from Qatar. “advance” the relationship between is already in the pipeline; we have al- South African companies to set up the GDP) may be 54.5% this year, growth of 2.9% in 2018, unchanged “If we reach our gas target usage Sasol and Qatar Petroleum “to enable ready started the process to extend the those kinds of value add industries,” 53.5% (2019), 52.7% (2020), 51.9% from last month’s projection, and of 23%, I don’t think the gas supply Qatar to come and invest,” noting that invite to Qatar, and it will be arriving he added. (2021) and 51% (2022). 2.8% in 2019. would be enough, so we are going to Qatar “does not have signifi cant in- very soon,” Moosa said. According to al-Kuwari, the Qatar FocusEconomics said so far this The country’s inflation slowed to engage with the LNG sector in Qatar vestments” in South Africa. Aside from hydrocarbons, Moosa Chamber is keen on encouraging Qa- year, Qatar economy has shown 0.4% in March (February: 0.8%). to try and give us an allocation,” he “They have invested in Africa but said there are investment opportuni- taris to invest in South Africa “as it “signs of improvement” compared to FocusEconomics sees inflation pointed out. not signifi cantly in South Africa, so ties for Qatar and South Africa in the is an ideal investment destination for last year, when it grew at the slowest averaging 2.1% in 2018 and 2.8% Asked for a specifi c timeframe, we are trying to get them to under- mining sector. Qataris.” pace since 1994 “as Qatar exceeded in 2019. Oil prices jump aft er US quits deal Companies that rushed into Iran now prepare to rush back out Oil prices rose more than 2% yesterday, climbing to near 3-1/2 year highs, after US President Trump abandoned a nuclear deal Bloomberg develop nuclear weapons in exchange Trump off icials showed no signs of with Iran and announced the “highest level” Berlin/Munich/Paris for access to global markets, the reality compromise. Richard Grenell, the recently of sanctions against the Opec member. stands to be far more complex amid appointed US ambassador to Germany, Ignoring pleas by allies, Trump on Tuesday Trump’s plans to reinstate financial sanc- said on Twitter that “German companies pulled out of a 2015 international deal with In boardrooms and corner off ices across tions. MTN Group Ltd, Africa’s largest doing business in Iran should wind down Iran, making investors nervous about ris- Europe, executives are assessing the wireless carrier, said eff orts to repatriate operations immediately.” ing risks of conflict in the Middle East and fallout of US President Donald Trump’s about €200mn from its Iranian unit will The European Union has in the past about oil supplies in a tight market. decision to scrap the Iran nuclear deal, now become tougher. sought to shield companies from US The US will likely re-impose sanctions which threatens to choke off an invest- Trump’s decision creates “huge uncer- sanctions, but executives are reluctant to against Iran after 180 days, unless some ment boom that started after the country tainty,” as it is unclear whether contracts rely on such initiatives for fear of losing other agreement is reached. returned to the international fold two signed in the last two years can still be access to the world’s biggest economy. Brent crude futures rose $2.02 to $76.87 a years ago. honoured, according to German industry French oil giant Total SA, for example, has barrel, a 2.7% gain, by 10.52am EST (1452 Since debilitating sanctions were eased in group DIHK. The group says Germany’s said it will pull out of a joint venture in GMT). The session high of $77.43 a barrel 2016, trade with Europe surged to more trade with Iran has climbed 42% to €3.4bn Iran if Trump re-imposes sanctions and it was the highest since November 2014. than $10bn, winning Iran the reputation since the accord was signed in 2015. can’t win an exemption. US West Texas Intermediate (WTI) crude fu- as a plum opportunity for growth.
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