Qatar 2010

We Accept

From the small peninsula jutting out into the Persian Gulf, the nation of Qatar is proving that neither landmass nor pipelines are the pillars of competitive advantage in the world gas market. Instead, it is riding the LNG train(s) to prominence and power. With the completion of two 7.8-million-tonne per year LNG Trains under RasGas 3, Qatar produced over 15 per cent of the world's liquified natural gas in 2010, making it one of the world's largest producing countries of its kind. It formalised the creation of the Gas Exporting Countries Forum, securing its headquarters in Doha, where members controlling over 70 percent of the world's natural gas reserves will discuss ongoing and future policies.

While the Qatari government is keen on attracting foreign investment and expertise, it has proven equally concerned with building up a domestic economy that will stand firm on its own.Its “Qatarisation” program is aimed at improving human capital at home by encouraging the training and hiring of Qatari nationals. The government has finalised a massive shipyard in Ras Laffan Port that not only enables faster turnaround on ship repairs that will keep the shipping industry humming but also makes the country a competitor in ship repair for other shipping companies across the world. The new Science and Technology Park in Education City, Doha has been constructed to stimulate and export innovation from Qatar so that it remains competitive in mainstay industries and builds up new ones.

The “Resource Curse” is a problem that has dogged energy-rich countries for decades. To learn how Qatar is managing to buck the trend and set a model for leveraging energy as a means rather than an end to economic growth, read The Oil & Gas Year Qatar 2010.