qatar projects 2011 - 2022
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Business opportunities in Qatar - details of projects planned and under way in Qatar, including those planned for the World Cup 2022TRANSCRIPT
Qatar ProjectsA presentation by MEED
Qatar facts
• Cash-rich Qatar has a gross domestic product (GDP) of some $130bn
• The population is small at 1.6 million; expatriates, mostly male, far outnumber Qataris
• It has been ruled by the Al-Thani family since the mid-1800s. In 1995 Crown Prince Hamad bin Khalifa al-Thani deposed his father to become emir
• Qatar has the third largest gas reserves in the world after Iran and Russia, despite its 11,600 square kilometres; in 2008, proven gas reserves were 25.37 trillion cubic metres
• In 2006 Qatar became the world’s largest exporter and trans-shipper of liquefied natural gas (LNG), overtaking Indonesia
Qatar gross domestic product
(QRm) 2009 2010e 2011f
Nominal oil and gas GDP
165,325 235,500 318,650
% change -23.1 42.4 35.3
Nominal non-oil and gas GDP
192,535 223,025 256,590
% change 2.4 15.8 15.0
Total nominal GDP 357,860 458,525 575,240
Nominal GDP % change -11.2 28.1 25.5
% real GDP growth 8.7 14.5 17.0
e=estimate; f=forecastSource: Qatar National Bank
Qatar economy
• The International Monetary Fund expects the economy to expand by 18.6 per cent in 2011
• The official budget surplus in 2010-11 is estimated at QR58.3bn, 12.1 per cent of GDP
• Rising energy prices and production is expected to result in surpluses reaching $130bn by 2015
• Sustaining gas export revenues will be essential if Doha is to avoid an excessive debt burden from the World Cup
• There is a risk that high inflation, as seen in 2006-08, will return. Planning and sensible scheduling is critical, as is an early start to building transport projects
• The sovereign wealth fund Qatar Investment Authority (QIA) holds assets that exceed $90bn
Qatar infrastructure
• Even before the World Cup was confirmed, Doha had a major infrastructure programme planned
• It included $35bn for a new rail network, $20bn on roads and $25bn on real estate
• Some $10bn was earmarked in 2010-11, including the New Doha International Airport and the New Doha Port
• Most projects formed part of the winning 2022 proposal, so are likely to be implemented in the next five years
• The Qatar-Bahrain landbridge was put on hold in June 2010 but will now get renewed attention
• Over the next five years, Qatar will invest more than $40bn on centrepiece projects-a $25bn rail network, a $11bn new airport and a $5.5bn new deepwater seaport
Qatar World Cup 2022
• The bid’s unique selling point is marrying 21st-century technology with financial largesse accrued from hydrocarbons
• The cost of building nine new World Cup 2022 stadiums and refurbishing three is comparatively small, at $3-4bn
• But the associated transportation and social infrastructure will put spending over $100bn in the next decade. More than 65,000 new hotel rooms are to be built
• There is still considerable work to be done in planning for 2017-2022
• A key milestone in the World Cup delivery programme is the establishment of a permanent agency in Q2 2011. One of its first tasks will be to appoint a project manager
Qatar oil, gas and industry
• Activity in the energy sector is likely to be subdued in the medium term after unprecedented investment in 2002-07
• The moratorium on developing the North Field means no new gas export projects are likely before 2015
• Following record investment in power, desalination and wastewater, Doha will only require new capacity in 2014-15
• New ethane allocations mean Qatar will be one of the few Gulf states to proceed with new petrochemical schemes in the medium term
• The under-construction Barzan gas development is expected to provide additional gas feedstock for steel and aluminium capacity
How MEED can help you
• Subscribe to MEED magazine and MEED.com for dedicated Qatar and World Cup coverage
• Subscribe to MEED Projects’ new Qatar Projects package to help you to win contracts in Qatar
• Buy MEED Insight’s off-the-shelf Qatar Projects Report 2011-22
• Attend MEED Events’ Qatar Transport event in Doha in June or Infrastructure Projects event in London in July
• If you are interesting in advertising around MEED’s Qatar coverage or sponsoring a MEED event, please contact us – [email protected] or [email protected]