It is a prevailing fact already that Qatar is one the wealthiest countries with huge reserves of natural gas in the world. The amount of oil reserves that they are able to store is projected to supply gas for the coming years which is a good thing for countries that relies heavily with those resources. Qatar have also taken steps in investing substantial amount in Britain for about ?35 billion and an additional ?5 billion investment plans for UK’s IT sector, energy resources and of course its different infrastructure for the next five years.
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% 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. There was a study conducted which reveals that business professionals in Qatar tend to use cheaper or free services rather than spending their money on a much 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.
It is also a must that you are aware of the fact that Qatar is the primary supplier of LNG in almost all parts of UK, the term LNG stands for liquid natural gas. 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. The location of Qatar became its strengths as well, since the place is said to be known as a natural gas field. Indeed there is a great oil output in the country on a yearly basis but still people put significant emphasis on conservative approaches 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. With that being said, the QIA intends to invest in US, the expected amount for the investment is 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.