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- Format
- 3 files (PDF report, 2 Excel files)
- Pages
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35 (Report only)
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- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
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Overview
This analysis includes a comprehensive Qatar energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Highlights
- The country targets 18% of renewables in the power mix by 2030.
- The hydrocarbon sector accounts for half of the GDP and around 90% of total exports.
- QEWC dominates power generation with 75% of the capacity.
- Qatar Energy, the national oil and gas company, is the unique LNG producer through its subsidiary QE LNG.
- Qatar is the third LNG producer in the world.
- The country exported 75% of its production of natural gas and oil products in 2023.
- The prices of gasoline and diesel increased by around 50% between 2020 and 2022 and then remained stable in 2023.
- Electricity prices are stable since 2020.
- Per capita energy consumption is the second highest in the world, more than twice that of other GCC countries.
- Total energy consumption is dominated by gas (78% in 2023).
- The new North Field Expansion project aims to raise its LNG production capacity by almost 85% to 142 Mt/year by 2030.
- The country targets 4 GW of solar power by 2030.
Institutions & Energy Policy
Qatar is a small country located on the north-eastern coast of the Arabian Peninsula. It is bordered by Saudi Arabia in the south and by the Persian Gulf and is separated from the island of Bahrain by a strait. Qatar has large natural gas reserves, which have transformed the country into a high-income economy. Qatar is a member of the Gulf Cooperation Council (GCC).
Energy Companies
Oil:
Qatar Energy (QE, previously, Qatar Petroleum) is the national company in charge of the development of the oil and gas sector. In 2021, it has changed its name to bring forth its strategy to switch towards energy efficiency and technologies such as CCS. Upstream to downstream activities are wholly managed by QE and its subsidiaries.
Energy Supply
Oil:
Oil production has been rising since 2021, reaching 75 Mt in 2023 (2.3%/year on average). It reached a peak in 2014 (82 Mt) and fell until 2021 at an average rate of 2%/year. It progressed rapidly between 2005 and 2014 (6.3%/year), with the increase in NGL production (around 50% of the production).
Energy Prices
Oil:
Oil products were historically strongly subsidized by the government, resulting in very low end-user prices. After a subsidy cut on diesel prices in 2014 and another on gasoline prices in 2016, the government decided to reform fuel subsidies and allow prices to fluctuate on a monthly basis.
Energy Consumption
The country's total energy consumption per capita is very high at around 19 toe (2nd highest in the world), including 17.5 MWh of electricity (4th highest).
Total energy consumption has been growing by 3%/year on average since 2013, reaching around 52 Mtoe in 2023. It grew very rapidly between 2000 and 2013 (8%/year).