Qatar Finds First Natural Gas Deposit in 42 Years, Minister Says
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Qatar, the emirate with the third-largest global reserves of natural gas, found a deposit with 2.5 trillion cubic feet of the fuel, its first discovery since uncovering the world’s biggest gas field 42 years ago.
State-run Qatar Petroleum, Wintershall AG and Mitsui & Co plan to develop the reservoir in a 544 square-kilometer (338 square-mile) area called block 4N off the Persian Gulf state’s northern coast, the companies said today at a news conference in the Qatari capital, Doha. Qatar’s North Field, shared with neighboring Iran, was discovered in 1971 and provides the emirate with 900 trillion cubic feet in gas reserves.