Qatar to launch IMEX energy exchange by end 2007 - GDN 14 Mar 2007
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Qatar to launch IMEX energy exchange by end 2007 - GDN 14 Mar 2007

 
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Qatar to launch IMEX energy exchange by end 2007 - GDN 14 Mar 2007

Posted on Wed 14 Mar 2007 12:40 by sharewadi 		Reply with quote
Competition for DME (Dubai Mercantile Exchange). Just read today that the DME opening date is 01 May 2007 so they'll have a bit of a head start.

Competition also for the DGCX (Dubai Gold and Commodities Exchange), and the DMCC (Dubai Multi Commodities Center)?

Gulf Daily News 14 Mar 2007 wrote:
Energy exchange to be launched in Qatar

LONDON: International Mercantile Exchange Holdings aims to launch an energy exchange in Qatar by the end of this year, the Qatar-based company said yesterday.

The new exchange, called IMEX, will focus on trading in liquefied natural gas (LNG), of which Qatar is a leading producer, the company said in a statement issued in London.

The project depends on gaining regulatory approval from Qatar.

Esam Janahi, Chairman of International Mercantile Exchange Holdings, said in a statement: "With the Middle East's leading position in the space of proven energy reserves, now is the time for the Middle East to become an independent region for price discovery." Qatar sits on the world's third-biggest gas reserves and its LNG industry is expanding rapidly.

Another energy exchange in the Middle East is due to launch in May this year. The Dubai Mercantile Exchange will trade an Oman oil futures contract, the first crude futures to have the backing of a Middle East producer.

The IMEX will be based at the Qatar Financial Centre in Doha and is expected in 2009 to move to the Energy City, a $2.6 billion energy business district being developed in Doha, the company said. Hess Energy Trading and Clifford Chance are acting as consultants to the project, the statement said.




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