Bloomberg: Qatar Pivots to Energy Investment Abroad as Home Projects Shrink

Qatar is buying oil and gas fields from Brazil to the Congo as the biggest liquefied natural-gas producer sees fewer energy developments at home.

Qatar Petroleum International Ltd.’s $1 billion purchase of 23 percent of the Parque das Conchas oilfield off Brazil from Royal Dutch Shell is the latest of three foreign deals in the past year. It completed the acquisition of 15 percent of Total E&P’s Congo unit in December, injecting $1.6 billion.

QPI also teamed up with Centrica Plc in April to buy gas fields in Canada from Suncor Energy Inc. for $981 million.

Qatar, which became the richest country per capita from gas sales, doesn’t plan to boost exports amid a moratorium on more development of its North Field, the largest gas reservoir in the world. Slowing domestic energy investment comes as the country needs to fund $200 billion in infrastructure before hosting soccer’s 2022 World Cup amid weaker economic growth. MORE

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