Qatar heavily relies on natural gas and petroleum as its key natural resources. Before oil was discovered, Qatar was a desolate region with a small community that lived mostly for fishing and pearling (Williams, 2020). But now, Qatar stands as the sixth largest producer of natural gas globally and harbors the third largest proven reserves of natural gas (Tok, 2021). Most of Qatar’s reserves are situated in the world’s biggest natural gas reserve, the offshore North Field, which is jointly shared with Iran. Qatar stands among the member states within the Gulf Cooperation Council (GCC). GCC nations mostly depend on income from oil and gas to finance state expenditures and manage import expenses. Recognizing the risks associated with relying solely on one natural resource, Qatar has now undertaken various developmental strategies and long-term visions to broaden its economic conditions.
Furthermore, the nation boasts the world’s biggest gas-to-liquids (GTL) plant, capable of handling roughly two lakh barrels daily. Here, natural gas undergoes processing to yield oil-based products like diesel and naphtha (Ahmed et al., 2019). At present, Qatar’s production encompasses helium, crude oil, paraffin, liquefied natural gas, and various petrochemical items like polyethylene, urea, and ammonia, often produced in collaboration with international partners through shared output arrangements (Rystad Energy, 2018). Apart from its significant oil and gas sectors, along with the petrochemicals and gas-to-liquids (GTL) industry, the nation has a limited manufacturing capacity. Broadening the manufacturing sector in Qatar relies on the availability of affordable energy to operate plants, however, Qatar’s manufacturing industry is mostly connected with its hydrocarbon reserves (Hanieh, 2018). Qatar is not the only country in the region that has oil as its natural resource but they stay competing by investing in their gas to liquid plant.
Figure 2: Qatar Natural Resources
