Middle East

Qatar

Qatar aims to reclaim its crown as the world’s largest LNG producer from Australia, targeting 126mn t/y by 2027, and is working hard to develop new markets.

State of Play

Qatar is aggressively expanding domestic LNG production capacity, targeting a 64% increase to 126mn t/y by 2027. Having shrugged off the impact of the ongoing economic embargo, the emirate’s huge expansion is attracting interest from the world’s leading IOCs, which QP is using to snap up overseas assets under its two-pronged expansion strategy.

2019 In Numbers

Gas Output	176	bcm
Gas Exports	125	bcm
LNG Exports	76.8	mn tons
O&G Export Rev.	72.9	$bn
O&G % Export Rev.	87	%

ALL DATA 2018 UNLESS OTHERWISE INDICATED.

Geopolitical Risk

8 Jan, 2021

Featured

Long-Running Qatar Embargo Ends With GCC Summit Agreement

Three and a half years after it began, the embargo of Qatar is over as Saudi Arabia and its allies agreed to restore ties. The decision appears based on pragmatic economic calculations, with Saudi Arabia keen to attract foreign investment. But the scars from 2017’s actions mean that full reconciliation will be a slow process.