Qatari firms may invest in Venezuela's energy sector

Private businesses and investors from Qatar and Venezuela are working closely to deepening bilateral trade and economic cooperation, and exploring business opportunities in the field of energy sector.
Mohamed bin Ahmed bin Tawar Al Kuwari, the Vice-Chairman of  the Qatar Chamber of Commerce and Industry, the country's largest and oldest private industry representative body, yesterday held a meeting with the Venezuela’s visiting Vice-Minister of Gas, Douglas Sosa at the chamber’s headquarters. The meeting discussed ways of enhancing cooperation ties between private sector of both countries. It also reviewed the available investment opportunities in Venezuela in gas and oil sectors.
The Venezuelan minister Douglas invited Qatari businessmen to explore investment opportunities and make good advantage of the pro-investment climate and other facilitations offered by the Venezuelan government to foreign investors.
“Qatari investments in Venezuela are welcome .There are hundreds of promising opportunities in gas, oil and mining. Qatar has a very considerable reputation in gas production. We are keen on benefit from Qatari experience in this regard,” he added. He said that Venezuela has proven gas reserves of about 400 trillion cubic feet, noting that the door is open for Qatari companies to do business without national partners.
Sosa continued saying that the investment climate in his country is encouraging, especially in view of the interest of the Venezuelan president to enhance cooperation with Qatar at all fields.
Al Kuwari, in turn, said that there are strong relations tied Qatar and Venezuela, assuring that the last visit of the Emir HH Sheikh Tamim bin Hamad Al Thani helped promote these relation to higher levels. The Emir, during his visit to Venezuela in November 2015, held official talks dominated by a spirit of understanding and a firm willingness to develop bilateral relations between the two countries in all fields.
Al Kuwari assured the chamber’s role in encouraging businessmen to discover the available investment opportunities in Venezuela in oil, gas and other economic sectors.
 He expressed hope that both countries’ companies could cooperate in what achieve the good advantage to both economies.