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How Qatar got richer

How Qatar got richer 0

How Qatar got richer

Since the 1900s, the Al-Thani family has led Qatar when it was still a British colony.

Since the 1900s, the Al-Thani family has led Qatar when it was still a British colony.

How Qatar got richer

At that time, Qatar’s main industries were pearling and fishing.

At that time, Qatar’s main industries were pearling and fishing.

How Qatar got richer

In 1939, oil was discovered in the city of Dukhan (Qatar), but it was nothing compared to the natural gas field discovered here more than 30 years later.

In 1939, oil was discovered in the city of Dukhan (Qatar), but it was nothing compared to the natural gas field discovered here more than 30 years later.

How Qatar got richer

In 1951, Qatar produced 46,500 barrels of oil per day, equivalent to $4.2 million in revenue.

In 1951, Qatar produced 46,500 barrels of oil per day, equivalent to $4.2 million in revenue.

How Qatar got richer

Revenue from oil exports began to flow into the pockets of the Al-Thani family.

Revenue from oil exports began to flow into the pockets of the Al-Thani family.

How Qatar got richer

Qatar gained independence in 1971. In the same year, they discovered the world’s largest natural gas field – South Pars/North Dome, located in Iran and Qatar.

Qatar gained independence in 1971. In the same year, they discovered the world’s largest natural gas field – South Pars/North Dome, located in Iran and Qatar.

In 1972, the then-King of Qatar – Khalifa bin Hamad began reducing royal family subsidies and increasing spending on social programs such as housing, healthcare, education and pensions.

In 1972, the then-King of Qatar – Khalifa bin Hamad began reducing royal family subsidies and increasing spending on social programs such as housing, healthcare, education and pensions.

Oil prices plummeted in the 1980s, causing Qatar’s economy to fall into crisis.

Oil prices plummeted in the 1980s, causing Qatar’s economy to fall into crisis.

In 1995, the situation had not improved.

In 1995, the situation had not improved.

One of his first moves was to accelerate the exploitation of the North Dome gas field.

One of his first moves was to accelerate the exploitation of the North Dome gas field.

To accommodate growing demand and production, Qatar began building liquefied natural gas (LNG) plants.

To accommodate growing demand and production, Qatar began building liquefied natural gas (LNG) plants.

In the late 90s, Qatar began signing joint exploitation agreements with many world oil companies.

In the late 90s, Qatar began signing joint exploitation agreements with many world oil companies.

In 1997, Qatar began supplying large amounts of natural gas to Spain and Japan.

In 1997, Qatar began supplying large amounts of natural gas to Spain and Japan.

Thanks to stable mining output, the country’s GDP has gradually accelerated over the past 15 years.

Thanks to stable mining output, the country’s GDP has gradually accelerated over the past 15 years.

In case it runs out of resources, Qatar tries to diversify its economy.

In case it runs out of resources, Qatar tries to diversify its economy.

In 2003, Qatar established a national investment fund – Qatar Investment Authority, with assets of up to 170 billion USD, thanks to revenue from oil and gas.

In 2003, Qatar established a national investment fund – Qatar Investment Authority, with assets of up to 170 billion USD, thanks to revenue from oil and gas.

Qatar is currently one of the countries with the most real estate in London, through QIA.

Qatar is currently one of the countries with the most real estate in London, through QIA.

Qatar Financial Center (QFC) was built in 2005 to develop the country’s financial industry.

Qatar Financial Center (QFC) was built in 2005 to develop the country’s financial industry.

In 2006, Qatar surpassed Indonesia to become the world’s largest exporter of liquefied natural gas.

In 2006, Qatar surpassed Indonesia to become the world’s largest exporter of liquefied natural gas.

In December 2010, Qatar was chosen to host the 2022 World Cup. The country committed to building 12 majestic stadiums with modern cooling technology so that players do not feel the desert heat.

In December 2010, Qatar was chosen to host the 2022 World Cup. The country committed to building 12 majestic stadiums with modern cooling technology so that players do not feel the desert heat.

Qatar’s landscape has changed dramatically over the years.

Qatar’s landscape has changed dramatically over the years.

And this is Qatar today.

And this is Qatar today.

In the world, many countries have oil and gas resources, but only a few countries can make full use of them like Qatar.

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