New Market Report Now Available: Qatar Power Report Q2 2013

Qatar's state-controlled power industry remains committed to the use of gas as its primary energy source. However, a growing number of gas export projects and a desire to diversify the country's energy mix have raised significant renewables potential, particularly in solar energy. The country may also flirt with the idea of nuclear power. Qatar is also building gas-fired generation to meet the growing demands of an expanding population and a rapidly growing economy.

Key trends and developments in the Qatari electricity market:

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* Qatar's government is planning to make investments worth US$22bn in its power and water infrastructure over the next eight years, according to a senior Qatar Electricity & Water Company official. The planned upgrades include the setting up of 140 electricity substations and the addition of over 2,000MW of capacity over a five-year period.
* Qatar Solar Technologies - a joint venture (JV) between Solarworld and several Qatari entities - is building a flagship US$1bn polysilicon plant in Ras Laffan Industrial City. The plant will initially produce 8,000 metric tonnes of polysilicon per annum and is designed to expand as demand grows. The government is aiming for solar power to account for 16% of total energy consumption by 2018 and is planning to tender its first solar power plant in 2013. However, our forecasts are more pessimistic, and we do not expect renewables to feature prominently in the country's energy mix for the foreseeable future.
* During the period 2013-2022, Qatar's overall power generation is expected to increase by an annual average of 6.5%, reaching 56.2 terawatt hours (TWh). Driving this growth is an annual 6.0% gain in gasfired generation, which remains the key form of power supply in the country. Conventional thermal sources are expected to remain the dominant fuel for electricity generation in the coming years, with all power projects currently planned or under construction using gas.
* Following an increase in 2012 real GDP of an estimated 6.0%, BMI forecasts growth to moderate significantly over the coming years, largely owing to base effects. We project average annual real GDP growth of 4.0% in the period 2013-2022. The population is expected to rise from 1.98mn in 2013 to 2.24mn by end-2022, with net power consumption anticipated to increase from 28.8TWh to 51.5TWh over the same period. During the 2013-2022 period, the average annual growth rate for electricity demand is forecast at 6.7%.

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