MUSCAT: Qatar signed a memorandum of understanding with Oman on the development of bilateral investment and trade Sunday, nearly eight months into a crisis between the emirate and its Arab neighbors.
The Omani news agency ONA said the agreement signed in Muscat covers a wide range of cooperation sectors including the production and export of food products from the sultanate to Qatar.
Saudi Arabia, Bahrain, the UAE, Yemen and Egypt broke off ties with Qatar in June, accusing it of supporting extremists and being too close to Iran.
The Arab states led by Saudi Arabia have recalled their diplomats from Qatar and banned the emirate from using their airspace or ports.
Oman, a member of the six-nation Gulf Cooperation Council along with Bahrain, Kuwait, Qatar, Saudi Arabia and the UAE, generally remains neutral in such regional disputes.
To break its isolation, Qatar inaugurated Port Hamad in September, a major platform for the country’s imports. It has also turned to Iran and Turkey, especially, to import food products.
Isolated Qatar signs agreements with Oman
Isolated Qatar signs agreements with Oman
QatarEnergy announces force majeure following Iran attacks: statement
DOHA: Qatar’s state-run energy firm on Wednesday declared force majeure following attacks on two of its main facilities that halted liquefied natural gas production and as Iran pressed missile and drone attacks across the Gulf.
“Further to the announcement by QatarEnergy to stop production of liquefied natural gas and associated products, QatarEnergy has declared Force Majeure to its affected buyers,” the company said in a statement.
QatarEnergy invoked the clause, which shields it from penalties and potential breach of contract claims from clients, after stopping LNG production on Monday.
Iranian drones attacked two of the company’s main production hubs in Ras Laffan Industrial City, 80 km north of Doha and in Mesaieed 40 km south of the Qatari capital, Doha’s ministry of defense said at the time.
The Gulf state is one of the world’s top liquefied natural gas producers, alongside the US, Australia and Russia.
On Tuesday, QatarEnergy said it would halt some downstream production of some products including urea, polymers, methanol, aluminum and others.
Qatar shares the world’s largest natural gas reservoir with Iran.
QatarEnergy estimates the Gulf state’s portion of the reservoir, the North Field, holds about 10 percent of the world’s known natural gas reserves.
In recent years, Qatar has inked a series of long-term LNG deals with France’s Total, Britain’s Shell, India’s Petronet, China’s Sinopec and Italy’s Eni, among others.
