The stake taken by Qatar Meeting, Incentive, Conference and Exhibition Development Institute (QMDI) will reportedly be in excess of 70 per cent.

QMDI was set up by the Qatar Foundation and Singapore’s Singex Global with the aim of developing Qatar as a destination for conferences and events.

The All-Energy event has run in Aberdeen, Scotland, since 2001 and will host its first event outside the UK, in Melbourne, Australia, in October. QMDI intends to expand the business to run exhibitions around Europe and, eventually, globally.

“It’s not so much the financial investment as using [QMDI’s] expertise and high quality event and conference people to grow the brand,” says Paul Stott, managing director of Management Generation Events, an existing shareholder in All-Energy.

“Our long term ambition is to have an event on every continent in the world,” Stott says.