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Many people are quite aware of the fact that Qatar is considered as one of the wealthiest countries in the world with a significantly high levels of natural gas reserves. If your country is one those that relies heavily in natural gas then here’s a good news, Qatar has approximately 15 billion barrels of oil that is projected to supply similar amount of natural gas for the next 23 years. Qatar have also taken steps in investing substantial amount in Britain for about ?35 billion and an additional ?5 billion investment plans for UK’s IT sector, energy resources and of course its different infrastructure for the next five years.
It is also a fact that the QIA also known as Qatar Investment Authority owns approximately 20% in one of the major international airports in London and they are a major stockholder in British Airways. Another good thing is that Qataris pay cheaper amount for their gas compared to bottled water however despite its country’s wealth they tend to be frugal. There was a survey conducted which reveals that most Qatar-based business owners go for cheaper or free services even if they can afford those expensive ones. For instance, instead of spending their money on pricey software they go for online free letterhead maker.
Aside from the fact that the country has high investments in London, it was also revealed that the country is the major supplier of the LNG needs in almost all parts of UK, LNG refers to liquid natural gas . This creates a significant impact in Qatar’s economy since more the 1/4 of UK’s fuel imports are in a form of natural gas. Since Qatar is lies in the South Pars Field, this is another factor that contributes to its booming economy, the said place is known as one of the sources of natural gas. Even if there is a good source of oil output in country still many people are using conservative strategies in order to provide sustainability in the coming years.
The investment that Qatar has made up to this day and for the next five years is almost ?1 billion each year however the returns are quite minimal compared to the past years and so the country needs to deal with new investment plans. This is the main reason why the QIA plans to seek other countries where they can invest and make significant returns and apparently they go for US as their next target, they plan to go for an investment that is approximately worth $35 billion.
Despite the fact that Qatar has a booming economy and considered as one of richest countries all over the globe still the country need to devise steps and future plans that will keep their status high more importantly these days wherein people are starting to go for renewable sources of energy.