POWERGLOBE QATAR is the energy arm of OPTIMIZED HOLDING (AL FAISAL). The company activates strategic energy solutions for Qatari and international corporations and governmental organizations, which are in the business of developing large-scale energy projects including Gas to Power Projects; Electricity Integrated Developments; Offshore Energy-Integrated Projects; NG & LNG Supply Value-Chain; Renewable Energy Projects; Energy Research & Development; Energy Optimization Solutions for large-scale operating assets, including hotels and hospitality resorts, connecting offshore facilities (i.e. islands) with the electricity grid, commercial and business towers, shopping malls and airports, banks and financial centers, sports and stadium facilities, public facilities i.e. ministries and hospitals, art and conventional centers, large industrial infrastructure facilities.
POWERGLOBE QATAR targets energy projects across Middle East, MENA, Asia, Africa, Europe, and creates profitable and cost-effective portfolio of energy generation and highly optimized-solutions. Its a Company licensed by Qatar Financial Centre Authority (QFC No: 00364), a license pursuant to the Qatar Financial Centre Authority Regulations, under Article 11 (1) of the QFC Law No (7) of 2005 of the State of Qatar.
Qatar is a high-income economy, backed by the world's third-largest natural-gas reserves and oil reserves. The country has the highest per capita income in the world. Qatar is classified by the UN as a country of very high human development and is widely regarded as the most advanced Arab state for human development. For its size, Qatar wields disproportionate influence in the world, and has been identified as a middle power. Qatar will host the 2022 FIFA World Cup, becoming the first Arab country to do so. Petroleum and liquefied natural gas (LNG) are the cornerstones of Qatar’s economy and account for more than 70% of total government revenue, more than 60% of gross domestic product and roughly 85% of export earnings. Proved oil reserves of 15 billion barrels (588,000,000 m3) should ensure continued output at current levels for 23 years. Gas has given Qatar a per capita GDP that ranks among the highest in the world.
Qatar's proved reserves of natural gas exceed 7000 km3, more than 5% of the world total and the third-largest reserves of any country in the world. Production and export of natural gas are becoming increasingly important. Long-term goals include the development of off-shore petroleum and the diversification of the economy.