Key Market Indicators
Qatar's energy consumption is projected to decline slightly over the next few years, decreasing to 1.82 exajoules by 2028 from 1.87 exajoules in 2023. This represents an average annual decrease of 0.3%. Historically, since 1970, Qatar's energy demand has been on a downward trend, falling by an average of 1.5% per year. In 2023, Qatar ranked 42nd globally in energy consumption, with Norway just ahead at 1.87 exajoules. The top three consumers were the United States, India, and Russia. Conversely, Qatar's energy supply is expected to grow. By 2028, the country's energy supply is set to reach 51 million tonnes of oil equivalent, up from 46 million tonnes of oil equivalent in 2023. This marks an average annual growth rate of 1.9%. Since 1976, Qatar's energy supply has increased at an average rate of 3.2% per year. In the 2023 rankings, Qatar held the 9th position in energy supply, with the Netherlands just ahead at 46 million tonnes of oil equivalent. The leading suppliers were France, Saudi Arabia, and the United Kingdom.
