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Article: Qatar - The Local Energy Base & Economy.
- Article from:
- APS Review Oil Market Trends
- Article date:
- August 31, 2009
CopyrightCOPYRIGHT 2009 Input Solutions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Qatar has switched to natural gas for its domestic energy and industrial sectors. The share of gas in local energy and industrial consumption now accounts for more than 80%, up from zero in the early 1970s. Qatar's economy is performing extremely well, having had since 2000 impressive surpluses in its annual budgets, balances of payment and balances of trade.
Of the six GCC states, only Qatar in 2009 is expected to continue to post a budget surplus, helped by long-term contracts to export LNG to Asia and Europe. Qatar should report a healthy fiscal surplus this year.
Qatar had a financial crisis in the second half of 1995, because the coup had caused the ...
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