Gulf Energy unveils plans to launch Middle East's first energy trading platform, International Mercantile Exchange

Notes and media contacts

International Media
Byron Ousey / Daniel Hunter
Gavin Anderson & Co.
Tel: +44 20 7554 1400

GCC Media
Arun Rangachari / Nikhil D'Rozario
Percept Profile Middle East.
Tel: +973 3962 3628

About the Ministry of Economy of the State of Qatar
The Ministry of Economy and Commerce strives to provide an ever-improving investment climate and solid base for attracting local and foreign capital without any restriction, and increasingly build investor confidence in the Qatari economy. The Ministry also seeks to encourage the Qatari private sector, enhancing financing markets, developing insurance services and protecting intellectual property rights, trade marks and patents.

The Ministry also prepares internal trade-related laws and legislations, supervises the commercial and economic professions in the country and signs regional and international economic and commercial agreements with other countries.

About the QFC
The Qatar Financial Centre (QFC) is a financial and business centre established by the Government of Qatar and located in Doha. It has been designed to attract international financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC will operate to international standards and provide a first class legal and business infrastructure for those operating within the QFC. The QFC was created by Qatar Law No.(7) and has been open for business since 1 May 2005. The QFC Authority is the commercial, administrative and legislative body responsible for driving the commercial strategy of the QFC and for developing relationships with the global corporate community and other key institutions both within and outside of Qatar.

About the QFCRA
The QFC Regulatory Authority has been established as an independent entity under primary Qatari statute with the objective of ensuring those operating from the QFC can do so with confidence in the fairness, robustness and enforceability of its laws, regulations and operating procedures. The Regulatory Authority regulates financial services entities that conduct any Regulated Activities (which includes all types of banking, insurance, asset management, financial advisory services, securities and derivatives dealing, and activities conducted by Islamic financial institutions) in, or from, the QFC. It has a broad range of regulatory powers to effectively and efficiently authorise and supervise exchanges and clearing houses, firms (including brokers and dealers) and individuals. The QFC Regulatory Authority's risk-based approach to regulation will be familiar to firms that presently operate in well-regulated financial centres. Its rules, powers and structure are modelled on international best practices. The Chairman and CEO of the QFCRA is Phillip Thorpe.

About Gulf Energy
Gulf Energy, a global consortium of energy experts, is at the forefront of the energy industry's innovative business thinking. Gulf Energy works to generate high value-adding ideas and see them implemented to the benefit energy stakeholders worldwide.

Energy City Qatar, the Middle East's first energy business centre, is the strategic concept of Gulf Energy.

About Energy City Qatar
Energy City Qatar (ECQ) is a pioneering development that will be the Gulf's first oil and gas industry hub. ECQ will be a single point of access to markets and expertise, the Middle East home for global players in the hydrocarbon value chain.

Envisioned by Gulf Energy, ECQ aims to attract the industry leaders in O&G production, IOCs, NOCs, support services, infrastructure and downstream activities, shipping and trading, market and resource data, intellectual property and energy trading.

ECQ has the full support of the Qatari Government and aims to lead the way in hydrocarbon above ground resource development.

ECQ forms part of the major new city development, Lusail, which in addition to major business and entertainment districts, will be home to up to 200,000 residents. Qatar is the most progressive, business friendly and the fastest growing economy in the Middle East. Home to the world's third largest natural gas reserves, Qatar has a stable and maturing political environment, a free press, and internationally recognised regulatory environment.

ECQ's lead financial advisor is Gulf Finance House, and PFC Energy is its strategic advisor. Its strategic partners are Abu Dhabi Investment House, and Kuwait Investment Company.