Qatar, a nation similar in size to Tripura, has emerged as a prominent player in the global arena. Spanning approximately 11,571 square kilometers, the country has a population of 2.8 million and boasts a high standard of living, with a per capita income between $60,000 and $70,000. Its GDP stands at around $200 billion. Several key factors underpin Qatar’s prosperity and influence.
The strategic location of Qatar in the Persian Gulf is a significant advantage. Its proximity to the Strait of Hormuz, a key global oil and gas supply route, is beneficial. The country is also well-positioned for LNG exports, with easy access to global markets via its coastal terminals.
Qatar possesses substantial natural gas reserves, ranking third globally. With approximately 891 trillion cubic feet of gas reserves, it controls 13% of the world’s natural gas.
Qatar is a leading LNG exporter. It exports 75% of its gas production, generating substantial revenue. Its LNG is supplied to over 40 countries. The North Field gas project, a large-scale undertaking, is central to its economic strength, and given current consumption rates, Qatar’s gas supply is projected to last for centuries.
Qatar’s economy relies heavily on its oil and gas resources. In addition to its vast gas reserves, the nation has oil reserves that contribute significantly to its economic stability. The combined revenues from oil and gas account for a substantial portion of the government’s income.
Qatar experienced a remarkable economic transformation during the oil crisis of the 1970s, when rising oil prices dramatically boosted its per capita GDP, positioning it among the world’s wealthiest nations.
Qatar has strategically invested its oil and gas revenues in infrastructure and tourism, enhancing its global influence. Hosting the 2022 FIFA World Cup played a major role in its soft power projection. It has also hosted major sporting events, showcasing its commitment to international events.
Qatar has taken on a role as a mediator in international disputes, leveraging its financial power and diplomatic relationships. Its efforts include mediating in the Israeli-Hamas conflict and facilitating the return of children from the Russia-Ukraine war. The nation is also home to a large US military base.