Fast Market Research recommends "Qatar Oil & Gas Report Q2 2013" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 05/15/2013 --BMI View: Qatar sits on the world's third-largest proven gas reserves, which are concentrated in the offshore North Field. The country's robust efforts to commercialise these deposits have resulted in Qatar becoming the world's largest liquefied natural gas (LNG) exporter. Our forecasts project that Qatar will retain this title over the forecast period, albeit with increasing competition from new entrants to the global LNG market by the end of the decade. The successful deployment of gas-to-liquids (GTL) technology will also support its petroleum export volumes, although pricing dynamics must remain accommodative for GTL technology to remain economical over the long term. Qatar's crude oil prospects are less exciting, as its oil reserves are modest in comparison with its Persian Gulf neighbours.

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We highlight the following trends and developments in Qatar's oil and gas sector:

- BMI sees Qatari gas production growing to nearly 190bcm by 2022, with sustained annual growth over the forecast period, albeit at a slowing rate. However, given the economy's robust growth outlook, Qatar's domestic gas consumption is also set to rise quickly, to as much as 72bcm over the same period. Export volumes should remain steady, however.
- With regard to exports, our forecasts see the country's theoretical gas exports peaking in 2019 at nearly 118bcm, pending an increase in pipeline exports to the UAE and Oman through the Dolphin pipeline and/ or the construction of new liquefaction trains. We forecast gas exports to remain close to this level through the end of our forecast period in 2022. Additional long-term supply contracts, particularly to Asian countries including Japan, also support the view that exports will remain elevated for the foreseeable future.
- We expect a 12% increase in oil production in the period 2013-22, with an associated small increase in net exports. The rise in Qatari refining capacity will boost domestic consumption of crude oil, while Qatar will also start exporting more fuels as a result of the start-up of Pearl GTL, which was successfully launched in September 2012. The successful execution of Pearl GTL will boost Qatar's petroleum export revenues and also bodes well for feedstock supplies to Qatar's petrochemicals sector. Pricing dynamics must remain accommodative in order to ensure that GTL production remains economical over the forecast period, however.

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