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FINANCIAL NEWS
Qatar 2010 gas earnings up to USD38.98b: CB
27 Oct 2011
(MENAFN) Qatar’s central bank said that last year, the value of the country’s sales of liquefied natural gas (LNG) and associated products grew to USD38.98 billion from USD25.9 billion in the previous year, reported Emirates 24/7.
The bank added that in 2010, Qatar’s oil exports reached 800,000 barrels per day with total revenue of around USD20.3 billion in the entire year.
It also said that the steep increase in gas income managed to compensate instability in global oil prices, allowing the country to record one of the world’s highest gross domestic product’s (GDP) growth rates, with its real GDP growing 16.6 percent in 2010 according to the IMF.
It is worth noting that in 2009, Qatar became the largest LNG supplier in the world when it produced around 40 million tons, whereas annual production capacity is now estimated at 77 million tons.
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