LNG expansion to enhance Qatar’s position as global supplier
The Peninsula
Doha: Qatar s economic diversification is paving the way for a more resilient economy and sustainable growth. The economic outlook for Qatar is promis...
Doha: Qatar’s economic diversification is paving the way for a more resilient economy and sustainable growth. The economic outlook for Qatar is promising, with several key developments shaping its trajectory.
Economic growth is expected to remain modest through 2025, accelerating to a high of 7.9 percent in 2027, according to IMF projections. This growth will be driven by the expansion of liquefied natural gas (LNG) production, initial reform gains from implementing the Third National Development Strategy (NDS-3), and the adoption of innovative technologies.
The expansion of LNG production including the North Field South (NFS) LNG project, is a cornerstone of Qatar’s economic strategy. With production starting in 2026, increased LNG output will not only boost export revenues but also support growth in related industries and infrastructure development, noted Qatar Financial Centre in a report. This expansion is expected to enhance Qatar’s position as a leading global LNG supplier, providing a stable revenue stream that can be reinvested into other sectors of the economy.
Meanwhile, NDS-3 will continue to drive sustainable economic growth by diversifying Qatar’s economy beyond hydrocarbons, fostering innovation, and creating a business-friendly environment. The focus on developing the private sector will continue, supported by world-class infrastructure and international events. Initiatives in manufacturing, logistics, tourism, IT, and financial services will reduce reliance on hydrocarbons and create new revenue streams.
Technological innovation and investment in cutting-edge technologies will also play a crucial role in Qatar’s economic transformation. By embracing digital transformation and fostering a culture of innovation, Qatar aims to enhance productivity, create high-value jobs, and attract international investments.
