Market Size of Qatar Oil and Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Qatar Oil and Gas Market Analysis
The Qatari oil and gas market is expected to record a CAGR of more than 3.2% during the forecast period of 2022-2027. The COVID-19 pandemic negatively impacted the Qatari oil and gas market since restrictions on outdoor travel drastically reduced industrial activity, shipping, and transportation. This impact was immediately felt on the Qatari oil and gas market demand. Increasing oil and gas production activities within the country are expected to boost the demand for the Qatari oil and gas market during the forecast period. However, plans to diversify the power generation mix by introducing renewable energy sources are expected to hinder the market growth during the forecast period.
The upstream segment is expected to dominate the market during the forecast period since most oil and gas producing fields of the country are situated in the Persian Gulf. The gas basins, including the South Pars field, are located to the north of the country and are produced by both Iran and Qatar.
New studies have revealed that the North Field's productive layers extend well into Qatari land in Ras Laffan, which may pave the way for new natural gas production projects in the north of Qatar, thus, creating immense opportunities for market players soon.
An increase in the country's natural gas production is expected to drive the market during the forecast period. The country has vast reservoirs of oil and gas that may be used to boost the market's growth.
Qatar Oil and Gas Industry Segmentation
The Qatari oil and gas market report includes:
Qatar Oil and Gas Market Size Summary
The Qatari oil and gas market is poised for growth, driven by increasing production activities and significant investments in offshore projects. The upstream segment is expected to lead the market due to the country's rich oil and gas reserves located primarily in the Persian Gulf. The South Pars field, shared with Iran, plays a crucial role in Qatar's natural gas production, which is among the highest globally. Despite the challenges posed by the COVID-19 pandemic, which temporarily dampened demand, the market is set to benefit from new natural gas production projects and the expansion of existing facilities. However, the country's efforts to diversify its energy mix with renewable sources may pose challenges to market growth.
Qatar's natural gas reserves are substantial, accounting for a significant portion of global reserves, and the country continues to be a leading producer in the region. The successful exploitation of these reserves, along with strategic projects like the North Field Expansion, is expected to bolster the market. Key players in the moderately consolidated market include Qatargas, Qatar Petroleum, and international companies such as ConocoPhillips, Exxon Mobil, and TotalEnergies. Strategic agreements, such as long-term LNG supply contracts with countries like China and Pakistan, further underscore Qatar's pivotal role in the global energy landscape. Despite geopolitical concerns in the Persian Gulf, the market's outlook remains positive, driven by robust production and strategic expansions.
Qatar Oil and Gas Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Oil and Gas Production Forecast, till 2027
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1.3 Oil and Gas Consumption Forecast, till 2027
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1.4 Refinery Installed Capacity and Forecast in Thousands Barrels Per Day, till 2027
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1.5 Recent Trends and Developments
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1.6 Government Policies and Regulations
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1.7 Market Dynamics
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1.7.1 Drivers
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1.7.2 Restraint
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1.8 Supply Chain Analysis
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1.9 PESTLE Analysis
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2. MARKET SEGMENTATION - BY SECTOR
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2.1 Upstream
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2.2 Midstream
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2.3 Downstream
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Qatar Oil and Gas Market Size FAQs
What is the current Qatar Oil and Gas Market size?
The Qatar Oil and Gas Market is projected to register a CAGR of greater than 3.20% during the forecast period (2024-2029)
Who are the key players in 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 Qatar Oil and Gas Market.
