Qatar Oil and Gas Report Q3 2011 Qatar Forecast to Account for 3.3% of Middle East Regional Oil Demand by 2015
Friday, Sep 02, 2011
Research and Markets has announced the addition of the "Qatar Oil and Gas Report Q3 2011" report to their offering.
“Qatar Oil and Gas Report Q3 2011”
Business Monitor International's Qatar Oil and Gas Report provides industry professionals and strategists with independent forecasts and competitive intelligence on Qatar's oil and gas industry.
This report forecasts that Qatar will account for 3.3% of Middle East regional oil demand by 2015, while providing 6.6% of supply. Middle East regional oil use rose to an estimated 7.6mn barrels per day (b/d) in 2010. Oil exports are growing steadily, because demand growth is lagging the pace of supply expansion. In 2001, the region was exporting an average of 17.85mn b/d. This total will have eased to an estimated 16.88mn b/d in 2010 and is forecast to reach 21.54mn b/d by 2015. Iraq has the greatest export growth potential, followed by Qatar.
In terms of natural gas, the region consumed an estimated 391bn cubic metres (bcm) in 2010, with demand of 487bcm targeted for 2015, representing 25% growth. Qatar's estimated share of gas consumption in 2010 will have been 5.2%, while its share of production is put at 25.6%. By 2015, its share of gas consumption is forecast to be 7.6%, with the country accounting for 27.9% of supply.
Qatar now shares second place with Israel, behind only the United Arab Emirates (UAE), in BMI's composite Business Environment (BE) ratings table, which combines upstream and downstream scores. The country holds outright first place, two points ahead of the UAE, in BMI's updated upstream Business Environment ratings. The report sees little risk over the short term of Qatar having its position challenged, thanks largely to the country's extraordinary gas wealth. The country's score benefits from a sound country risk profile, healthy output growth prospects, high reserves-to-production ratios (RPR) and an attractive licensing regime. Qatar is now ranked equal sixth with Bahrain in BMI's updated downstream Business Environment ratings, with a few high scores and longer-term progress up the rankings a strong possibility.
It suffers from low scores for refining capacity, oil demand, retail site intensity, population, nominal GDP and private company involvement in the downstream segment. Generally, healthy country risk factors bolster the overall score.
Source: Business Wire
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