The Qatar National Bank’s latest report on the Qatari economy shows that the non-oil sector accounted for more than half of the country’s GDP in the third quarter…
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 MOREIndependent explorer HRT Participações em Petróleo on Wednesday confirmed that it had purchased Shell’s 80-percent stake in Brazil’s offshore Bijupira and Salema…
READ MOREPartially state-owned natural gas company Dolphin Energy said last Wednesday it is to increase its LNG imports in early 2015 to meet rising demand.
“Energy…
READ MOREAbu Dhabi’s state-owned investment company, Mubadala Petroleum, entered talks on Sunday to buy a $3-billion stake in the $10-billion Shah sour gasfield development…
READ MOREUS multinational Occidental Petroleum has ceased its efforts to sell an $8-billion minority stake in its Middle Eastern operations to raise cash for drilling operations…
READ MOREEven with the moratorium on the North Field still in effect, Qatar is still the largest LNG supplier in the world, shipping 77 million tonnes per year since 2010 from…
READ MOREGazprom last week agreed to sell its 37.1-percent stakes in two gas distribution companies in Lithuania, Amber Grid and Lietuvos Dujos, for a total of €140.8…
READ MOREShell announced the farming down of a 23-percent interest in the Parque das Conchas (BC-10) project in the Campos Basin offshore Brazil to Qatar Petroleum International…
READ MOREDeloitte partner Kenneth McKellar gives his view of how Bahrain should align its natural gas supply and demand balance. McKellar is responsible for managing…
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