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. At this point, Qatar is one of the major suppliers of natural gas all over the globe with over 15 billion barrel of oil reserves it is expected for them 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.
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.
Moreover, Qatar is also the major supplier for the liquid natural gas needed by UK. This is such a good thing to hear knowing that one of UK’s fuel imports is natural gas which covers 30% of the said import. 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.
As mentioned earlier Qatar has been making investments in UK this year and for the next five years, the investment is approximately ?1 billion however the growth seems minimal compared to the past years which is quite alarming. 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.