Market Size of Qatar Oil and Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Qatar Oil and Gas Market Analysis
The Qatari oil and gas market is expected to record a CAGR of more than 3.2% during the forecast period of 2022-2027. The COVID-19 pandemic negatively impacted the Qatari oil and gas market since restrictions on outdoor travel drastically reduced industrial activity, shipping, and transportation. This impact was immediately felt on the Qatari oil and gas market demand. Increasing oil and gas production activities within the country are expected to boost the demand for the Qatari oil and gas market during the forecast period. However, plans to diversify the power generation mix by introducing renewable energy sources are expected to hinder the market growth during the forecast period.
The upstream segment is expected to dominate the market during the forecast period since most oil and gas producing fields of the country are situated in the Persian Gulf. The gas basins, including the South Pars field, are located to the north of the country and are produced by both Iran and Qatar.
New studies have revealed that the North Field's productive layers extend well into Qatari land in Ras Laffan, which may pave the way for new natural gas production projects in the north of Qatar, thus, creating immense opportunities for market players soon.
An increase in the country's natural gas production is expected to drive the market during the forecast period. The country has vast reservoirs of oil and gas that may be used to boost the market's growth.
