عابر سبيل
07-09-2005, 08:20 PM
الاخوة و الاخوات...
السلام عليكم و رحمة الله...
من باب زيادة الوعي و التثقيف...
أضع بين أيديكم هذا المقال الرائع الذي يتحدث عن اقتصاد أروع... لبلد
و لا أروع...الله يحفظه من كل شر...و الله يعيننا على شكر نعمته...و لا يبدل
نعمته نقمه... قولوا آمين
ترى الوضع في قطر كلش ايطمن (باذن الله)
على عكس اسم اخونا/الوضع مايطمن... ;)
با حاول شوي شوي اترجم أهم النتقاط
في الايام القادمة...باذن الله
و ارجو ممن عنده القدرة...معاونتي لتعم الفائدة عالجميع
الموضوع من مجلة
Gulf Business
التي تصدر في دبي
Gas Fired Future
Sitting pretty on natural gas reserves amounting to more than 15 per cent of the world total and sufficient to support planned production for over 200 years, Qatar’s economy is growing at a record pace. The vibrant GCC nation, however, is deploying its oil and gas windfall judiciously to rapidly diversify its economy.
The State of Qatar is definitely moving in the fast lane. This GCC nation’s rapid economic growth is bestowing upon it per capita incomes that rival those of the wealthiest countries in the world. Qatar’s GDP per capita reached an imposing level of $36,476 in 2004, marking an impressive growth of 14.36 per cent over the $31,897 that it notched up in 2003. Couple that with the fact that Qatar is home to one of the world’s largest proven natural gas reserves, and it is clear that the country’s GDP per capita will remain at enviable levels in the years to come. To top it, Qatar has a low level of inflation, which averaged 1.6 per cent over the past five years.
The country, however, is not resting on its natural reserves laurels. Qatar’s economic diversification drive is led from the front by its government’s efforts to rapidly expand the country’s natural gas sector and provide the much-needed impetus to move towards being an oil-independent economy. Sure, oil prices reign supreme today, with a barrel of the black gold hovering well above the $60 mark and showing no signs of easing up to ‘normal’ levels any time soon.
Qatar is, of course, at the forefront of Middle Eastern economies reaping considerable dividends from this price spike, with the share of the oil and gas sector in the country’s overall GDP increasing to over 62 per cent in 2004, up from 57 per cent in 2002, according to data released by the country’s Planning Council. This increase is attributable not only to the oil price hike, but also to a corresponding increase in the country’s production levels of oil and gas.
GDP gradient
Qatar’s nominal GDP growth has reached record levels, averaging 18.9 per cent over the past five years (2000 to 2004). The preliminary estimates by the Planning Council for 2004 show that nominal GDP grew at an impressive rate of 20.5 per cent to reach QR103.6 billion, marking a more than 100 per cent jump since 1999, when it was at a level of QR45.1 billion. Primary attributes for this rapid pace come from the underlying increased exports of oil, liquefied natural gas (LNG), petrochemicals and related industries, coupled with favourable global prices.
Make no mistake, though – while Qatar’s oil and gas sector has obviously been the major contributor to the country’s rapidly rising GDP, in real terms, the contribution to GDP of the country’s non-oil and gas sector has risen from QR25.58 billion in 2000 to QR39.2 billion in 2004 – a 53.23 per cent increase in five years. Recognising the fact that, historically, Qatar has been dependent on oil export income to sustain its economy, which is still vulnerable to oil price movements, the Qatari government is following a policy of exploiting its significant reserves of natural gas to promote investment in the non-oil sector of the economy, thus providing bedrock for future economic growth and development.
Budgeting for growth
After almost a decade of deficits, Qatar has experienced a budget surplus every year since fiscal year 2000/01, amounting to a total of QR16.6 billion ($4.6 billion), showcasing the turnaround achieved by the country’s economy. Qatar’s 2004/05 State Budget reveals another year of expansion, which will also act as a catalyst in boosting private sector activities. The budget estimates total revenues at QR26,192 million, total expenditures at QR28,352 million, with an overall deficit of QR2,160 million.
The 2004/05 budget is based on an oil price assumption of $19/b compared to $17/b in the previous budget estimates. The budgeted deficit would, of course, be wiped out if oil prices average $21.5 p/b during the fiscal year 2004/05. Considering the fact that Qatari crude oil prices averaged $27.9/b in 2003 and $37.9/b during Q3 2004, and were hovering around $59 in mid August-July 2005, that this deficit will eventually turn into a surplus is anybody’s guess.
Qatar’s improved fiscal position along with reduced debt servicing requirements has resulted in a better outlook and higher sovereign ratings from Standard & Poor’s, Moody’s and Capital Intelligence.
Stepping on the gas
Qatar’s North Gas Field is the largest non-associated gas field in the world, with proven reserves estimated at over 900 trillion cubic feet (tcf), equivalent to about 162 billion barrels of oil (over 15 per cent of the world total). These reserves will be sufficient to support planned production of natural gas for over 200 years. The recent development of projects to produce and export natural gas in the form of LNG, piped gas, GTL and investments in petrochemical and fertiliser industries bear testimony to the fact that Qatar has been successful in diversifying its revenue base by reducing its historic dependence on oil export revenues.
The State-owned Qatar Petroleum (QP), which manages the country’s oil, gas, fertiliser, petrochemicals and refining enterprises in Qatar and abroad, has initiated and developed two major LNG projects with foreign shareholders for the purpose of utilising the North Field gas for exports in the form of LNG. These projects are Qatargas (Qatar Liquefied Natural Gas Company) and RasGas (Ras Laffan Liquefied Natural Gas Company).
Expansion of LNG facilities through RasGas II, Qatargas II, RasGas III, and Qatargas III is being pursued to meet additional export opportunities. Sales and Purchase Agreements (SPA) have been reached with a number of countries, which at their peak in 2007 will reach 29.9 million tonnes per annum (mtpa). Several Heads of Agreement (HoA) have also been signed, and should these turn into confirmed SPAs, total LNG exports would reach about 77.2 mtpa by 2012. QP has allocated QR122 billion in its five-year plan, starting 2005, for LNG and piped natural gas projects.
السلام عليكم و رحمة الله...
من باب زيادة الوعي و التثقيف...
أضع بين أيديكم هذا المقال الرائع الذي يتحدث عن اقتصاد أروع... لبلد
و لا أروع...الله يحفظه من كل شر...و الله يعيننا على شكر نعمته...و لا يبدل
نعمته نقمه... قولوا آمين
ترى الوضع في قطر كلش ايطمن (باذن الله)
على عكس اسم اخونا/الوضع مايطمن... ;)
با حاول شوي شوي اترجم أهم النتقاط
في الايام القادمة...باذن الله
و ارجو ممن عنده القدرة...معاونتي لتعم الفائدة عالجميع
الموضوع من مجلة
Gulf Business
التي تصدر في دبي
Gas Fired Future
Sitting pretty on natural gas reserves amounting to more than 15 per cent of the world total and sufficient to support planned production for over 200 years, Qatar’s economy is growing at a record pace. The vibrant GCC nation, however, is deploying its oil and gas windfall judiciously to rapidly diversify its economy.
The State of Qatar is definitely moving in the fast lane. This GCC nation’s rapid economic growth is bestowing upon it per capita incomes that rival those of the wealthiest countries in the world. Qatar’s GDP per capita reached an imposing level of $36,476 in 2004, marking an impressive growth of 14.36 per cent over the $31,897 that it notched up in 2003. Couple that with the fact that Qatar is home to one of the world’s largest proven natural gas reserves, and it is clear that the country’s GDP per capita will remain at enviable levels in the years to come. To top it, Qatar has a low level of inflation, which averaged 1.6 per cent over the past five years.
The country, however, is not resting on its natural reserves laurels. Qatar’s economic diversification drive is led from the front by its government’s efforts to rapidly expand the country’s natural gas sector and provide the much-needed impetus to move towards being an oil-independent economy. Sure, oil prices reign supreme today, with a barrel of the black gold hovering well above the $60 mark and showing no signs of easing up to ‘normal’ levels any time soon.
Qatar is, of course, at the forefront of Middle Eastern economies reaping considerable dividends from this price spike, with the share of the oil and gas sector in the country’s overall GDP increasing to over 62 per cent in 2004, up from 57 per cent in 2002, according to data released by the country’s Planning Council. This increase is attributable not only to the oil price hike, but also to a corresponding increase in the country’s production levels of oil and gas.
GDP gradient
Qatar’s nominal GDP growth has reached record levels, averaging 18.9 per cent over the past five years (2000 to 2004). The preliminary estimates by the Planning Council for 2004 show that nominal GDP grew at an impressive rate of 20.5 per cent to reach QR103.6 billion, marking a more than 100 per cent jump since 1999, when it was at a level of QR45.1 billion. Primary attributes for this rapid pace come from the underlying increased exports of oil, liquefied natural gas (LNG), petrochemicals and related industries, coupled with favourable global prices.
Make no mistake, though – while Qatar’s oil and gas sector has obviously been the major contributor to the country’s rapidly rising GDP, in real terms, the contribution to GDP of the country’s non-oil and gas sector has risen from QR25.58 billion in 2000 to QR39.2 billion in 2004 – a 53.23 per cent increase in five years. Recognising the fact that, historically, Qatar has been dependent on oil export income to sustain its economy, which is still vulnerable to oil price movements, the Qatari government is following a policy of exploiting its significant reserves of natural gas to promote investment in the non-oil sector of the economy, thus providing bedrock for future economic growth and development.
Budgeting for growth
After almost a decade of deficits, Qatar has experienced a budget surplus every year since fiscal year 2000/01, amounting to a total of QR16.6 billion ($4.6 billion), showcasing the turnaround achieved by the country’s economy. Qatar’s 2004/05 State Budget reveals another year of expansion, which will also act as a catalyst in boosting private sector activities. The budget estimates total revenues at QR26,192 million, total expenditures at QR28,352 million, with an overall deficit of QR2,160 million.
The 2004/05 budget is based on an oil price assumption of $19/b compared to $17/b in the previous budget estimates. The budgeted deficit would, of course, be wiped out if oil prices average $21.5 p/b during the fiscal year 2004/05. Considering the fact that Qatari crude oil prices averaged $27.9/b in 2003 and $37.9/b during Q3 2004, and were hovering around $59 in mid August-July 2005, that this deficit will eventually turn into a surplus is anybody’s guess.
Qatar’s improved fiscal position along with reduced debt servicing requirements has resulted in a better outlook and higher sovereign ratings from Standard & Poor’s, Moody’s and Capital Intelligence.
Stepping on the gas
Qatar’s North Gas Field is the largest non-associated gas field in the world, with proven reserves estimated at over 900 trillion cubic feet (tcf), equivalent to about 162 billion barrels of oil (over 15 per cent of the world total). These reserves will be sufficient to support planned production of natural gas for over 200 years. The recent development of projects to produce and export natural gas in the form of LNG, piped gas, GTL and investments in petrochemical and fertiliser industries bear testimony to the fact that Qatar has been successful in diversifying its revenue base by reducing its historic dependence on oil export revenues.
The State-owned Qatar Petroleum (QP), which manages the country’s oil, gas, fertiliser, petrochemicals and refining enterprises in Qatar and abroad, has initiated and developed two major LNG projects with foreign shareholders for the purpose of utilising the North Field gas for exports in the form of LNG. These projects are Qatargas (Qatar Liquefied Natural Gas Company) and RasGas (Ras Laffan Liquefied Natural Gas Company).
Expansion of LNG facilities through RasGas II, Qatargas II, RasGas III, and Qatargas III is being pursued to meet additional export opportunities. Sales and Purchase Agreements (SPA) have been reached with a number of countries, which at their peak in 2007 will reach 29.9 million tonnes per annum (mtpa). Several Heads of Agreement (HoA) have also been signed, and should these turn into confirmed SPAs, total LNG exports would reach about 77.2 mtpa by 2012. QP has allocated QR122 billion in its five-year plan, starting 2005, for LNG and piped natural gas projects.