Qatar is undertaking a major long-term expansion strategy in the North Field to increase the production of liquefied natural gas (LNG). The project, which involves tens of billions of dollars worth of investment, seeks to boost the country’s LNG capacity by 64% by 2027. The move is in line with the goal to capture greater global market share and is expected to help Qatar consolidate its...
Qatar Energy
Chapter | Energy & Utilities from The Report: Qatar 2022
Qatar is leveraging its resources to become a knowledge-based, diversified economy fuelled by a dynamic private sector. As such, the country is investing in strategic areas such as agriculture, services, and research and development to further move the economy away from its dependence on hydrocarbons and attract greater foreign direct investment.
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Qatar is leveraging its resources to become a knowledge-based, diversified economy fuelled by a dynamic private sector. As such, the country is investing in strategic areas such as agriculture, services, and research and development to further move the economy away from its dependence on hydrocarbons and attract greater foreign direct investment.
As of early 2020 Qatar’s energy sector was on the threshold of major expansion plans that will allow it to benefit from growing global demand for cleaner...
Qatar has demonstrated considerable resilience in recent years, successfully developing new homegrown industries while at the same time strengthening its global ties. Although Covid-19 has introduced significant economic uncertainties in 2020, a rapid response from Qatar's authorities to curb the effects of the virus should stand the nation's economy in good stead over the medium and long term.
For over a decade Qatar has been the world’s leading supplier of liquefied natural gas, and by 2024 the country aims to boost output by 43%. While much of Qatar’s growth in the decades after independence in 1971 was fuelled by crude oil, natural gas gained prominence in the 1990s. In 2018 Qatar announced it would leave the Organisation of Petroleum Exporting Countries, which it joined as one...
Its relatively small population and status as the world’s biggest gas exporter have helped Qatar become the richest country globally in terms of GDP per capita, which stood at $72,700 at current prices in 2019, according to IMF estimates. In recent years, however, the nation has faced strong economic headwinds from a drop in global energy prices to a diplomatic blockade.
In 2016 Qatar retained its title as the world’s largest exporter of liquefied natural gas. For many years the state has also been a global player in the crude oil and petroleum product markets. It is a key energy provider for many of the world’s leading economies, lying at the heart of a hydrocarbons logistics chain that stretches from Japan to the UK. However, these are challenging times for...