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. As of today, Qatar have already invested a big chunk of money in Britain, the investment is estimated ?35 billion moreover another investment is expected to happen for the next five years since they have plans in investing in UK’s energy resources, IT department and infrastructure.
The bond that Qatar and UK has is quite deep since the QIA or widely known as Qatar Investment Authority owns an approximate of 20{b591748f826032a44094cf4ce35d276e8289e306533f6d9b0214ce44f11b709d} in one of London’s international airports while the Qatar Airways is a major stockholder in British Airways since 2016. Another plus factor is the fact that Qataris pay greater amount for a bottle of water compared to purchasing gas but despite the country’s great wealth they tend to be prudent with money matters. The frugality that they possess is even supported by a survey which indicates a significantly high number of business owners who prefer cheap or free services even if they can pay for greater services. A perfect example for this one is the fact that they tend to use online free letterhead maker rather than purchase pricey software.
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.
Qatar has been providing an investment for approximately ?1 billion to UK each year, starting this year and for the next five years however the returns have actually slowed down compared to the past years which is quite disturbing. With that being said, the QIA intends to invest in US, the expected amount for the investment is worth $35 billion.
Even if Qatar is seen as one of the wealthiest countries in the world, the country needs employ feasible steps that will keep their country’s wealth and status high more importantly that people are drastically shifting to renewable energy sources.