(AFP)-Qatar’s revenues fell 42 percent in the first half of 2026, its emir says, as gas infrastructure and exports took a severe hit during the Iran war.
Qatar, the world’s second-largest exporter of liquefied natural gas after the US, lost a “significant proportion” of its exports, Sheikh Tamim bin Hamad Al Thani tells the annual session of the Shura Council advisory body in Doha.
“The closure of the Strait of Hormuz, together with the direct damage inflicted on some energy facilities in Ras Laffan Industrial City, disrupted a significant portion of the country’s exports,” the emir says. “It is only natural that the crisis would have a negative impact on public finances, as the total revenues declined by 42 percent during the first half of the year.”
Iranian strikes badly damaged the Ras Laffan site and Qatar’s exports have been hobbled by Iran’s blockade of Hormuz — the only route for its natural gas shipments.
However, a major expansion of North Field, the world’s biggest gas field, is going ahead, the emir says.
Qatar is one of the Gulf countries hit hardest by the war. The International Monetary Fund forecasts a 15.6% drop in its GDP this year in its latest global report.
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