India has so far delayed the delivery of at least 20 shiploads of LNG from Qatar in 2015, as the importer seeks to cut a better deal with its top gas supplier. The…
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 struck a USD 6-billion deal with a Chinese shipyard to build 18 of the largest LNG carriers ever constructed.
READ MOREQatarEnergy has chartered an additional 19 LNG tankers, bringing its fleet to a massive 104.
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 MOREGlobally, about 60 percent of oil and 40 percent of gas reserves are found within carbonate rocks. All of Qatar’s producing oil and gasfields have carbonate…
READ MOREThe Kuwait National Petroleum Company has announced the awarding of four contracts, worth a total of $11.5 billion, for the construction of the Al Zour refinery. The…
READ MOREQatar holds 24.7 tcm (872 tcf) of natural gas reserves, the majority of which is located in the North Field, and is the largest producer and exporter of LNG worldwide.…
READ MOREIn 2014, multinational industrial services firm Kentech was awarded a long-term maintenance and shutdown services contract for Shell’s Pearl gas-to-liquids (GTL)…
READ MOREScottish pipeline maintenance, modification and repair company STATS Group has been awarded a $10-million emergency pipeline repair contract with an undisclosed LNG…
READ MOREA newly built rig operated by oil and gas company Maersk Oil in the Al Shaheen field off the coast of Qatar gave way after one of the unit’s jack-up legs…
READ MOREFrench multinational engineering and construction company Technip, in a joint venture with Japanese engineering firm Chiyoda, completed Qatargas’ Plateau Maintenance…
READ MOREQatar Petroleum has announced layoffs and planned exits from its non-core businesses.
CEO Saad Sherida Al Kaabi said on Tuesday that foreign staff had been laid off,…
READ MOREThe Qatar National Bank has said the country can maintain its current level of gas production for 138 years.
The bank’s official “Economic Commentary” report,…
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