The 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,…
READ MOREOil reserves25.2 billion barrels
Oil production1.75 million bopd
Gas reserves24.7 tcm
Gas production177 bcm
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.
Suresh Pillai of Mark Technologies talks about natural gas production in Kuwait's Jurassic gasfields.
READ MOREQatarEnergy 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 MOREThe 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.
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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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The firm said in a statement that development of…
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