Key Market Indicators
In a notable shift, Qatari energy consumption is projected to decline to approximately 1.82 exajoules by 2028, down from roughly 1.87 exajoules in 2023. This marks an average annual decrease of 0.3%. Historically, since 1970, Qatar's energy demand has seen an average annual decline of 1.5%. In 2023, Qatar was ranked 42nd globally in terms of energy consumption, just behind Norway, which also recorded around 1.87 exajoules. The top spots in this ranking were occupied by the United States, India, and Russia, securing the second, third, and fourth positions, respectively. Conversely, Qatar's energy supply is forecasted to grow, reaching about 51.31 million tonnes of oil equivalent by 2028, up from approximately 45.71 million tonnes of oil equivalent in 2023. This represents an average annual growth rate of 1.9%. Since 1976, the country's energy supply has grown at an average rate of 3.2% per year. In 2023, Qatar held the ninth position globally in terms of energy supply. The Netherlands surpassed Qatar with a supply of 45.71 million tonnes of oil equivalent. Leading this ranking were France, Saudi Arabia, and the United Kingdom, occupying the second, third, and fourth positions, respectively.
