Overview of Qatar's oil and gas industry
| Duration of study: | 2019 - 2028 |
| TACC: | >3,2 % |
main actor *Disclaimer: Top players ranked in no particular order |
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Qatar Oil and Gas Market Analysis
The oil and gas market in Qatar is expected to register a CAGR of more than 3.2% during the forecast period 2022-2027. The COVID-19 pandemic negatively impacted Qatar's oil and gas market as restrictions on outdoor travel drastically reduced industrial activity, shipping and transportation. This impact was immediately felt in the demand of the Qatari oil and gas market. Increased oil and gas exploration activities within the country are expected to boost demand in the Qatari oil and gas market over the forecast period. However, plans to diversify the power generation mix by introducing renewable energy sources are expected to hamper the market growth over the forecast period.
· The upstream segment is expected to dominate the market during the forecast period as most of the country's producing oil and gas fields are located in the Persian Gulf. The gas deposits, including the South Pars field, are located in the north of the country and are produced by both Iran and Qatar.
New studies have revealed that North Field's pay layers at Ras Laffan extend deep into Qatari soil, paving the way for new natural gas production projects in North Qatar and soon creating immense opportunities for market participants.
· An increase in the country's natural gas production is expected to drive the market during the forecast period. The country has large oil and gas reserves that can be used for market growth.
Qatar Oil and Gas Industry Segments
Qatar Oil and Gas Market Report Includes:
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Trends in the oil and gas market in Qatar
This section covers the main market trends shaping the Qatar Oil & Gas market according to our research experts:
upstream segment to dominate the market
· South Pars is a natural gas condensate field in the Persian Gulf. It is the world's largest natural gas field, with Iran and Qatar sharing ownership of the field. The natural gas field supplies the most significant part of the country's natural gas production.
· In 2020, crude oil production in Qatar was 1,809,000 barrels per day (KBPD), which was comparatively higher than the 1,630 KBPD in 2010. However, oil production has stagnated in previous years. Therefore, the country plans to increase its production to meet the coming demand for oil.
In February 2021, Italian oilfield service provider Saipem received an award letter from Qatargas for the development of the North Field Production Sustainability offshore project off the coast of Qatar worth approximately US$1.7 billion. The scope of the project includes engineering, procurement, construction and installation of offshore facilities.
Additionally, in January 2022, QatarEnergy awarded McDermott International a major engineering, procurement, construction and installation contract for the offshore structures designed for its North Field East expansion project in the Persian Gulf.
· Therefore, the upstream segment is expected to dominate the market due to the position of the oil and gas fields in the country and the significant investments being made in offshore oil and gas field projects.
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Increased natural gas production drives market demand
· Qatar is rich in natural gas production. As of 2020, the country had produced 171.3 billion cubic meters of natural gas, a figure comparatively higher than the 123.1 billion cubic meters produced in 2010.
Qatar had an estimated 24.7 trillion cubic meters of proven natural gas reserves as of 2020. Most of the country's proven gas reserves are offshore. The country has one of the largest natural gas reserves, accounting for 12.5% of the world's existing reserves. The successful exploitation of the reserves should fuel the growth of the market.
· In August 2021, Qatar Petroleum (QP) awarded an engineering, procurement and works (EPC) contract to Spanish engineering firm Técnicas Reunidas for its North Field Expansion Project. The project consists of four new LNG trains and is scheduled to start in 2025 with a capacity of 32 million tons per year (MPTA).
· In addition, Qatar is among the largest natural gas producers in the region and is expected to further increase its natural gas production over the forecast period. However, the complicated relations between Iran and Saudi Arabia and their direct impact on the Persian Gulf are a concern for the Qatari government.
· Based on the above factors, therefore, the increase in natural gas production is expected to boost the Qatari oil and gas market over the forecast period.
Analysis of the competition in the oil and gas market in Qatar
Qatar's oil and gas market is moderately consolidated. Major companies include Qatargas Operating Company Limited, Qatar Petroleum, ConocoPhillips Company, Exxon Mobil Corporation and TotalEnergies SE.
The top players in the oil and gas market in Qatar
Qatargas Limited Operating Company
Qatar Energy
ConocoPhillips Company
ExxonMobilCorporation
TotalEnergies SE
*Disclaimer: Top players ranked in no particular order
Recent developments in the Qatari oil and gas market
· In September 2021, Qatar Petroleum signed the largest LNG supply contract with CNOOC Limited. Under the contract, Qatar Petroleum would supply 3.5 million tonnes per year (MTPA) of LNG to CNOOC Limited from 2022 to 2036. The LNG will be supplied from the Ras Laffan III liquefaction terminal in Qatar.
In February 2021, Qatar Petroleum entered into a long-term Sale and Purchase Agreement (SPA) with Pakistan State Oil Company Limited (PSO) for the supply of up to 3 million tonnes of Liquefied Natural Gas (LNG) per year (MTPA). . ) to the Republic of Pakistan.
Qatar Oil and Gas Market Report - Table of Contents
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHOD
3. SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Oil & Gas Production Forecast to 2027
4.3 Oil & Gas Consumption Forecast to 2027
4.4 Installed refining capacity and forecast in thousand barrels per day by 2027
4.5 Recent Trends and Developments
4.6 Government Policies and Regulations
4.7 Market Dynamics
4.7.1 Controllers
(Video) Gravitas Plus: The future of Oil4.7.2 Restriction
4.8 Supply Chain Analysis
4.9 PESTLE-Analyse
5. MARKET SEGMENTATION – BY SECTOR
5.1 Upstream
5.2 Halfway
5.3 Downstream
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements
6.2 Strategies of Leading Players
6.3 Company Profiles
6.3.1 Qatargas Limited Operating Company
6.3.2 Qatar Oil
6.3.3 ConocoPhillips Company
6.3.4 Exxon Mobil Corporation
6.3.5 TotalEnergies SE
*List not exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Depending on availablity
Qatar Oil and Gas Market Research Frequently Asked Questions
What is the investigation period of this market?
Qatar Oil & Gas Market is studied from 2019 to 2028.
What is the growth rate of the Qatar Oil and Gas market?
Qatar oil and gas market will grow at a CAGR of >3.2% over the next 5 years.
Who are the Major players in the Qatar Oil and Gas Market?
Qatargas Operating Company Limited, QatarEnergy, ConocoPhillips Company, Exxon Mobil Corporation and TotalEnergies SE are the major companies operating in the oil and gas market in Qatar.
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Qatar Oil and Gas Industry Reports
Detailed Industry Statistics and Market Share Prospects of Qatar Oil and Gas Sector for 2020, 2021 and 2022. Qatar Oil and Gas Research Report provides a comprehensive overview of market size and industry growth forecast from 2023 to 2028. Available for download is a free sample file of the Qatar Oil and Gas PDF report.
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