Middle East · QAT
Qatar
The long-term LNG contract. North Field expansion is the 2027–30 supply event the market is waiting on.
Oil production
1.3 mb/d
0.4 mb/d demand
Net oil
+1.0 mb/d
Export surplus
Gas production
180 bcm
Net +138 bcm
O&G rent
28.0%
Fiscal breakeven $45
Oil balance
Production versus demand, 2025, million barrels per day.
Gas balance
Production versus demand, 2025, billion cubic metres.
Proven oil
25 bn bbl
Gas reserves
24.0 tcm
Refining
0.4 mb/d
LNG
77 bcm export
Hydrocarbon mix
Oil versus gas in this country’s oil-and-gas demand (oil-equivalent).
- Oil19%
- Gas81%
Inflows and outflows
What leaves. What arrives.
Qatar outflows 0 kb/d crude, 32 bcm LNG. Inflows 0 kb/d crude, 0 bcm LNG.
Local crude
Priced off the waterborne tape.
No local futures contract on this board. Brent, Dubai and WTI still set the netback. Open the flows desk for the markers that moved when Maduro was ousted and when the Iran war started.
Crude flowsMapped crude
Barrels per day.
This economy is not on the mapped seaborne board. The corridors that rewired in 2026 are on Flows.
LNG out
- China8 bcm−14 bcm
- Europe (ARA)7 bcm−11 bcm
- India6 bcm−10 bcm
- South Korea6 bcm−8 bcm
- Japan5 bcm−7 bcm
LNG in
None mapped.
Economy
Spot vs oil-indexed contract mix determines the budget. Hormuz is the shipping risk; the US and Australia are the market-share risk. Ras Laffan remains a single-point-of-failure for Asian winter.
- GDP
- $0.2 tn
- Population
- 2.8 m
- Oil intensity
- 0.6 bbl /$1k
- Oil & gas rent
- 28.0% GDP
- Hydrocarbon trade
- -32.0% GDP
- Fiscal breakeven
- $45 /bbl
- $30 oil shock
- +49.3 pp GDP
- Club
- Independent
Projected oil demand
Regional IEA WEO 2025 oil pathways applied to this country’s 2025 baseline. STEPS 2035 demand 0.4 mb/d (net +1.0) versus NZE 0.2 mb/d (net +0.5).
| Scenario | 2025 | 2030 | 2035 | 2050 |
|---|---|---|---|---|
| Stated Policies | 0.4 | 0.4 | 0.4 | 0.4 |
| Net Zero 2050 | 0.4 | 0.3 | 0.2 | 0.1 |
| Current Policies | 0.4 | 0.4 | 0.4 | 0.5 |