Qatar to Invest at Least $10 Billion in U.S. Ports

Qatar has plans to invest at least $10 billion in U.S. ports and has been in talks with international banks for financing, in a move that will deepen U.S.-Qatar relations. While the plan is at a preliminary stage, Doha aims to invest in U.S. ports on the East Coast that will be developed in phases.

The Congress approved President Joe Biden’s $1.2 trillion infrastructure investment plan in November. The plan includes $5.22 billion of federal funding for port specific programs, which is short of the estimated tens of billions of dollars needed.

U.S. transport secretary Pete Buttigieg said in November at a news briefing with the Port of Los Angeles that while the government was delivering a historic funding for infrastructure, it can’t be all from federal budget. Buttigieg added that local, state and private partners should be involved to have the kinds of resources needed.

There are around 360 ports in the United States.

While Qatar doesn’t have a large amount of investments in overseas port, last year the state’s commercial ports operator QTerminals purchased the Turkish port of Akdeniz and reached an agreement with Ukraine to develop the Black Sea port of Olvia.

The U.S.-Qatar relations have been deepening since the Gulf state forged close ties with the Taliban, playing an important role that led to the U.S. troop pullout from Afghanistan this year. In November, the two countries signed an agreement for Qatar to represent U.S. diplomatic interests in Afghanistan.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today

Get your daily Business Brief

Subscribe free to Business Brief

Business Brief delivers the latest insights straight to your inbox

You'll get daily industry insights on

Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

Libya’s Political Infighting Hits Nation’s Capital, Continues to Risk Oil Exports

Libya’s worst fighting for two years hit the capital, Tripoli, on Saturday. The civil war that led to political armed infighting has surfaced following the 2011 NATO-backed uprising against the country’s then President Gaddafi, as local groups have taken different stances. An attempted democratic transition got out of control as armed groups built local power bases and gathered around rival political factions, seizing control of economic assets.

Russia Orders Caspian Pipeline to Suspend Activity

A Russian court ordered the Caspian Pipeline Consortium (CPC), which delivers oil from Kazakhstan to the Black Sea through one of the world’s largest pipelines, to suspend activity for 30 days. Tengizchevroil, owned 50% by Chevron, has asked the CPC to clarify the details and next steps after the ruling. 

Egypt Latest Focus of EU as the Bloc Tries to Secure Energy Supply

Egyptian Prime Minister Madbouly met with EU’s climate chief Timmermans in Cairo to discuss cooperation in energy. Egyptian government said it is exploring ways to enhance energy cooperation with the European Union. 

Stay informed

error: This content is protected !!