Qatar becomes an Energy Giant due to it LNG Reserves
Published By : 06 Aug 2015 | Published By : QYRESEARCH
In the past, Qatar was a poor country that relied mostly on fishing and pearl diving. However, now it is one of the wealthiest country in the world. Qatar stands out at present at the world’s wealthiest nation in terms of output per capita. Even though now the country’s growth has been flat for some time, the global volumes still have quadrupled in the past two decades
Around 40 to 50 years back, Shell discovered the large troves of natural gas in the North field located in the Qatari water. However, at that time there was no market for natural gas. Furthermore, the customers for natural gas were in Europe that were to reach using pipeline, and Shell walked away from this opportunity.
The full development of Qatar has led to the rise of the liquefied natural gas industry in the nation. Furthermore, this country has substantially contributed to the share of the global LNG market. In addition to this, Qatar boasts of even bigger projects, bigger volumes, bigger ships, and a bigger global footprint.
According to Ibrahim Bawazir, an executive who works for Qatar Gas, they have pushed their research and development efforts to another step and expanded their size. He further said that it is almost impossible to construct a liquid natural gas station on this scale.
After investing billions of dollars, the country is now at the forefront in the industry. The part of the emirate’s fleet called the Al Rekayyat which is run by the Royal Dutch Shell now goes to Fujian located in China and also to the region Yokkaichi based in Japan. This fleet will also go to Dubai and Wales. This fleet of ships after loading the LNG recently had around 4 tugboats that help pull the ship from their berth using a deep roar. After four days of the launch of the ship into the Persian Gulf this ship docked in the west coast of India.