While the investment world awaits Saudi Aramco’s initial public offering, another Middle East country may have a natural gas production powerhouse that rivals its OPEC cohort.
According to data published by the U.S. Energy Information Administration, Qatar produced 5.65 trillion cubic feet of dry natural gas in 2014.
State-owned Qatar Petroleum does not publicly disclose production data.
That production level made Qatar the fourth largest dry natural gas producer in the world in 2014, placing the country’s production level just behind Iran but still well shy of U.S. and Russian production.
According to data compiled by Bloomberg, Qatar’s condensate and natural gas liquids surged past its oil production in 2010.
The country began producing nearly twice as much condensate and other natural gas liquids compared to its crude production level by 2015, Bloomberg found.
According to the U.S. Energy Information Administration, Qatar’s proved natural gas reserves stood at 885 trillion cubic feet as of 2014.
That level was high enough to make Qatar’s natural gas reserves the second largest in the world and a full three spots ahead of Saudi Arabia’s reserve levels.
According to data complied by Bloomberg, Qatar Petroleum’s total output has surged past Rosneft and ExxonMobil.
The state-owned company also produces and sells more liquid natural gas than any other firm but the company still ranks behind Saudi Aramco, Gazprom and the National Iranian Oil Co. in total energy production, Bloomberg found.
Qatar was the tenth largest overall energy producer in the world in 2014 after producing 10.012 quadrillion Btu of energy that year, making the country the fourth largest energy producer in the world that year.
Despite the country’s large natural gas reserves, it still lags most other OPEC members in overall crude production.
According to data collected by Bloomberg, produced 615,000 barrels of crude per day last month, down from peak production of 880,000 recorded in June 2008.
According to the EIA, Qatar ranked well-below Saudi Arabia and the United States for total petroleum and other liquids production in 2015.
Qatar was the fourteenth largest total petroleum and liquids producer in 2015 with 2.049 million barrels per day of production.
That figure was dwarfed by the 11.94 million bpd Saudi Arabia produced that year and well below the 15.12 million bpd produced in United States.
Qatar’s crude oil has been steadily trending downwards since the start of 2016.
According to secondary sources collected by OPEC, Qatar produced 643,000 barrels per day in December, marking a 7.6 percent year-over-year decline.
As of the end of December, Qatar was the fourth smallest OPEC producer by production volume.