Qatargas 3 and 4 projects to cost $14 billion
Dubai: H H Sheikh Tamim bin Hamad Al Thani, Qatar's heir apparent, has laid the foundation stone Qatargas 3 and 4 projects, whose cost is estimated at $14 billion, in the Ras Laffan industrial city.

When the two projects come on stream by 2010-end, Qatar will become the world's leading producer of LNG with a capacity of 77 million tonnes per annum, said the minister of energy and industry, Abdullah bin Hamad Al Attiyah.

By 2010, Qatari LNG will be providing power in major US, European and Asian markets, he added.

Upstream facilities are expected to cost between $1.5 billion and $2 billion while the cost of the vessels will be close to $2.5 billion.
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US auto market share churn continues
GM's fell in the US almost 15 per cent while rival Toyota reported its highest ever monthly sales yet.

General Motors Corp., lost $10.6 billion in 2005 and continues to give up U.S. market share to Asian competitors.

GM car sales dropped 22 per cent as the automaker's rental fleets fell, while truck and SUV sales were down 9 per cent despite brisk sales of the redesigned Chevrolet Tahoe, which saw a 20 per cent increase. GM's sales were down 5 per cent for the quarter.

Sales at Toyota rose 7 percent for the month, led by a 15 per cent increase in truck and sport utility vehicle sales. While sales of full-size SUVs sank — the Toyota Land Cruiser was down 31 per cent from a year ago — sales of the midsize 4Runner rose 15 per cent and sales of the redesigned RAV4 crossover shot up 117 per cent. Toyota's sales also were up 7 per cent for the quarter.

Honda Motor Co. said its sales were up 4 per cent for the month, largely on the strength of the hybrid Honda Insight, which saw sales climb 41 percent, and the Ridgeline pickup, which was up 38 per cent.

Ford, Lincoln and Mercury cars were flat compared with March 2005, but truck and SUV sales were down 7 per cent. The Ford Explorer took a 25 per cent dive.

Ford's sales were down 2 per cent for the first quarter. The automaker, which is in the midst of restructuring its unprofitable North American operations, has said one of its top goals is arresting its U.S. market share decline.

In each of the last five years, Ford has lost one percentage point of market share, which equates to about 250,000 vehicles. Based on first-quarter sales, the company is on track to lose half a point this year, Pipas said. Ford now controls about 17 per cent of the U.S. market.
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