2009's winners and losers in the oil industry

The Iraqi oil auctions. (Getty Images)
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Qatargas

Even though global demand for liquefied natural gas (LNG) has slumped in 2009 Qatar has used the time to forge ahead with its impressive infrastructure plans and as a result is now the world’s largest exporter of LNG.

The centrepiece of Qatar’s investment is the Qatargas 2 project, the world’s first fully integrated value chain LNG venture.

The US$13.5 billion project at Ras Laffan Industrial City in  has seen the construction of two world class liquefied natural gas (LNG) trains each with a capacity of 7.8 million tones per annum (mtpa) and 0.85 mtpa of Liquefied Petroleum Gas (LPG), 140,000 bpd of condensate, three storage tanks, power utilities and water injection systems, a fleet of 14 ships and a receiving terminal.

The LNG from Qatargas 2  will supply the UK with up to 20% of its gas needs.

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Qatar’s vast reserves of gas, it has the world’s highest reserves of non-associated gas and the third highest gas reserves overall, coupled with the aforementioned infrastructure and security of supply has meant that the Gulf state has become a popular choice for countries looking to diversify gas supplies. 

Other factors that undoubtedly helped Qatar cement it’s place as the top LNG exporter include recent events in the two countries with the largest gas reserves. Russia turning off gas supplies to Eastern Europe in the winter after a row over payments with Ukraine and the recent UN sanctions regarding Iran’s nuclear ambitions has meant that countries such as Poland and Romania are now buying Qatar’s LNG.

And with Qatar having enough gas reserves to supply the UK with 100% if its gas requirements for the next 250 years things can only get better for the Gulf state.

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