Qatar Investment Authority Eyeing UK Energy Opportunities

UK infrastructure such as energy is in the sights of the Qatar Investment Authority, according to the boss of the Arab emirate's sovereign wealth fund.

Ahmad Mohamed Al-Sayed, chief executive of the QIA, said the fund is "looking for opportunities" to invest more money in the UK economy which is still the "main destination" for its cash.

Qatar is already heavily invested in the UK, particularly in the English capital London. It owns significant chunks of property, such as the Canary Wharf Group and The Shard, as well as stakes in luxury department store Harrod's and supermarket chain Sainsbury's.

Al-Sayed's comments about investing in the UK, reported in the Telegraph, were made at a Harrods event to unveil a new chandelier in the Knightsbridge store's entrance hall.

The QIA was founded in 2005 by the Qatari authorities. According to the Sovereign Wealth Fund Institute, the QIA has around $170bn (£103bn, €125bn) of assets under management.

Qatar and the UK have an existing relationship in the energy sector. Qatari gas accounts for around a fifth of the UK's supply.

In November, energy giant Centrica signed a £4.4bn deal with Qatargas to import 3 million tonnes of liquefied natural gas a year until 2018.