778-Som-Lalit Institute Of Business Management - Gujarat ...

and developments in the worldwide energy market and also local," said Deputy
Managing Director, Maersk Oil Qatar,Sheikh Faisal Al-Thani. The company currently
produces around one-third of Qatar's daily oil production. " Maersk Oil is a long-term
partner with Qatar Petroleum and the State of Qatar and is therefore pleased to
encourage on-going dialogue between industry peers to help share knowledge and
ideas."
In 2000, shale gas represented just 1% of American natural gas supplies. Today, it is
30% and rising, and triggering energy prices to fall. While the scale of Shale oil could
be even greater than gas, with some forecasts claiming there exists 8 barrels of
crude locked in shale rock for each 1 barrel of conventional oil. The International
Energy Agency's most recent World Energy Outlook predicted that the US will lead
the world in both oil and natural gas production by the end of the decade, overtaking
Saudi Arabia and Russia.
The Trade Linkage between India and Qatar
The Trade Linkage between India and Qatar can be understood from the following
details.
India Qatar Economic Relations
The very large India has a long history of friendly relations with Qatar country
marked by commercial ties and people to people contacts. The relationship today is
very rich, close and multi-dimensional. Indian community acts as the catalyst for
enhanced ties across a spectrum of bilateral relations
India‘s bilateral trade with Qatar country rose up from US$ 1.2 billion in 2005 to US$
3.7 billion in 2009. Indian exports to Qatar country increased from US $ 380 million
to US$ 900 million at the time of this period. Main items of Indian exports are
machineries and equipments, transport equipments, textiles, food products, ores and
minerals etc. Qatar‘s exports to India amounted to US$ 2.8 billion in the year 2008
as compared to US$ 896 million in the year 2005. India is the 4 th largest export
market for Qatar country after Japan, South Korea and Singapore countries. In
terms of Qatari import, India ranks at the 10th position. As per Indian statistics data,
India‘s exports in amount to Qatar country for the year 2009-10 were $537 million
while India‘s imports in amount from Qatar country for the same period amounted to
$4.6 billion.
India and Qatar have signed a trade agreement and accordingly India will purchase
LNG of 7.5million tons for the next 25 years. The first shipment has taken place in
the year 2004. The countries have also signed Memorandum of Understanding in the
import of petrochemicals and fertilizers for the Indian industry. India has also sought
34 | P a g e