Qatar's Gas Reserves to Last 138 Years, Says QNB

Qatar has sufficient gas reserves to maintain production at current rates for some 138 years, Gulf Times reported citing a Qatar National Bank (QNB) report.

The Gulf nation remains the third largest producer of natural gas in the world after the US and Russia with 5.1 percent of global production. Qatar is also the world’s top exporter of liquefied natural gas (LNG) with 31 percent of total global exports in 2014.

The report stated that Qatar’s domestic energy demand is expected to rise strongly as the population grows rapidly due to the influx of expatriates being called in to work on the country’s large infrastructure programme.

The $10.3bn Barzan project is expected to come online in the near future and will meet rising domestic demand to a large extent, Gulf Times quoted the report as saying.

The first production from Barzan is expected during the second half of this year, QNB said.