Dr
Abi-Aad explored Qatar’s achievements in exporting natural gas to numerous
markets around the world in liquefied (LNG) and
in piped forms and said its reserves are sufficient to satisfy current
worldwide gas consumption for around seven years and a half even if no further
discoveries are made.
“Qatar is ranked third in the world, after Russia and Iran,
with proven gas reserves of 25,100 billion cubic metres, as estimated in early
2013 by BP Statistical Review of World Energy, or around 13.4% of the world’s
total. The country’s gas reserves to population ratio is the highest in the
world.”
Dr Naji Abi-Aad
Manager of the Institute of Energy Economics, American University of Beirut
Dr Naji Abi-Aad
Manager of the Institute of Energy Economics, American University of Beirut
He also noted that about 99% of Qatar’s proven gas reserves
are in non-associated form in the North Field, which was discovered in 1971 and
is located fully offshore, 80 km northeast of the onshore land, extending
over an area of about 6,000 sq.km.
Commenting on Qatar’s various gas advantages, Dr Abi-Aad said: “Qatar is well distinguished for having low costs of production with strong governmental support and strategic geographical location in relative proximity to key gas markets. Additionally Qatar has a stable political system and a straightforward decision-making process supported by a liberal economic environment and wide openness to foreign investment.”
Commenting on Qatar’s various gas advantages, Dr Abi-Aad said: “Qatar is well distinguished for having low costs of production with strong governmental support and strategic geographical location in relative proximity to key gas markets. Additionally Qatar has a stable political system and a straightforward decision-making process supported by a liberal economic environment and wide openness to foreign investment.”
citation;
The natural gas in Qatar covers a large portion of the world supply of natural gas. According to Oil & Gas Journal, as of January 1, 2011, reserves of natural gas in Qatar were measured at approximately 896 trillion cubic feet (25.4 trillion cubic metres); this measurement means that the state contains 14% of all known natural-gas reserves, as the world's third-largest reserves, behind Russia and Iran. The majority of Qatar's natural gas is located in the massive offshore North Field, which spans an area roughly equivalent to Qatar itself. A part of the world's largest non-associated, natural-gas field, the North Field, is a geological extension of Iran's South Pars / North Dome Gas-Condensate field, which holds an additional 450 trillion cubic feet (13 trillion cubic metres) of recoverable natural-gas reserves.
While Qatar is a member of the OPEC and is a significant oil producer, the government has devoted more resources to the development of natural gas in the contemporary era, particularly for export as liquefied natural gas (LNG). In 2006, Qatar reportedly surpassed Indonesia to become the largest exporter of LNG in the world. Together, revenues from the oil and natural-gas sectors amount to 60% of the country's GDP. Domestically, the vast majority of Qatar's total energy consumption comes from natural gas (79%), whilst the balance is supplied by oil.
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