Qatargas has signed a memorandum of understanding with Shell and Danish petroleum transportation conglomerate Maersk, the Qatari LNG producer said in a press release…
READ MOREQatar's Energy Industry
in figures
Oil reserves25.2 billion barrels
Oil production1.75 million bopd
Gas reserves24.7 tcm
Gas production177 bcm
Qatar: Advantages in Adversity
Qatar’s oil and gas industry has had a significant impact on the nation since oil was discovered in the mid-20th century. In 1985, Qatar’s North field was declared the largest non-associated gasfield in the world with recoverable reserves amounting to 10% of all recoverable reserves worldwide.
Hydrocarbons activities and affiliated operations form the majority of the peninsular nation’s economic backbone and make up around 70% of government revenues. Gas operations have propelled the country’s GDP per capita into the top 50 globally. QatarEnergy is the state-owned entity involved in managing all oil and gas activity in the country.
The country has made considerable investments in producing LNG since it began in the 1990s, with the country now one of the leading LNG exporters worldwide along with the US and Australia. LNG export from Qatar has traditionally been done through long-term oil-indexed contracts, though short-term contracts are being made as the LNG customers diversify import sources. The traditional target market for the country’s product is Asia, although interest in Qatari LNG from Europe has grown.
While the nation’s power generation capacity has traditionally come from fossil fuels, the government has made ambitious strides to develop renewable capacity, particularly solar. The state has set ambitious targets to have its electricity derived from non-gas sources by 2030 under the Qatar National Vision 2030 initiative.
QatarEnergy has chartered an additional 19 LNG tankers, bringing its fleet to a massive 104.
READ MOREAfrica Oil has made a bid to boost its shares in Impact Oil & Gas, a partner of TotalEnergies in the giant Venus discovery off…
READ MOREQatar reports
More reportsThe USD 5-billion Congo LNG project is expected to reach a capacity of 3 million tonnes per year.
READ MOREQatarEnergy announces plans to expand production in the world’s largest known gas reservoir.
READ MOREQatarEnergy has agreed to supply Japanese conglomerate Mitsui & Co with up to 11 million barrels of gas condensate per annum for 10 years.
READ MOREHoussam Dennaoui, deputy CEO of Alam Steel Industries Company, talks to The Energy Year about the company’s contributions to Kuwait’s economy and the main…
READ MOREIran has taken a tough stance against a production freeze proposed by other members of OPEC, Iranian OPEC envoy Mehdi Asali was quoted as saying in the Tehran-based…
READ MORESaudi Arabia and Russia agreed to freeze production in a meeting in Qatar today.
The agreement would mean keeping production at January levels, which would allow…
READ MOREMajor oil-producing countries should cut production to lift the falling prices of crude oil, Russian state-run Rosneft’s CEO Igor Sechin said Wednesday at the…
READ MOREQatar Petroleum has acquired a 30% interest in Chevron’s deepwater offshore lease in Morocco, the Qatari state-run oil and gas firm announced today.
Under the…
READ MORERaed Al Rayes, deputy chief executive and general manager of the Arab Petroleum Investments Corporation (APICORP), discusses investments for oil and gas industry…
READ MOREIndia is renegotiating the terms of its 25-year gas deal with Qatar, which was signed in 2004, as the LNG price slump made has gas available at half the rate of the…
READ MOREBahrain’s Oil and Gas Authority awarded an LNG import terminal contract Wednesday to a consortium made up of independent company Teekay LNG Partners, South Korea’s…
READ MOREThe UAE is seeking to increase natural gas production and reduce dependence on imports. Statoil’s Middle East vice-president Neri Askland describes the advantages of…
READ MOREMcDermott has signed a brownfield engineering, procurement, construction and installation (EPCI) contract for Qatari LNG producer RasGas, the US contractor announced…
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