Key Takeaways
- • Qatar has ruled out a pipeline bypass of the Strait of Hormuz, with Energy Minister Saad Sherida Al-Kaabi saying such a route would require duplicate LNG facilities abroad and does not make economic sense.
- • Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani launched Doha Investment, a platform to manage and grow the Qatar Investment Authority's domestic portfolio of 45 companies, roughly one-third of QIA's assets.
- • Qatar announced more than $60bn in projects and investment opportunities over the next five years, including approximately $38.5bn in infrastructure awards and $22.5bn in private real estate and hospitality investment.
- • Ras Laffan attacks in March damaged two LNG units and cut Qatar's export capacity by around 17%, with repairs estimated at three years; North Field East first production is now delayed to the first half of 2027.
- • Qatar's GDP fell 7% year on year in the first quarter of 2026, according to official figures.
Summary
Qatar has ruled out using pipelines to bypass the Strait of Hormuz, Minister of State for Energy Affairs and QatarEnergy chief executive Saad Sherida Al-Kaabi said, despite offers from neighbouring countries to provide alternative routes through their territories. According to Al-Kaabi, LNG cannot be moved through a conventional gas pipeline; Qatar would need to build new liquefaction facilities at the far end, duplicating the large plants under construction as part of the North Field expansion. He said the decision rests on commercial and technical grounds. He also rejected US Treasury Secretary Scott Bessent's prediction that the strait could become "worthless" within two years, calling the assessment "completely wrong" and noting the waterway carries trade in many products beyond oil and gas.
The North Field expansion aims to lift Qatar's LNG capacity from 77 million tonnes a year to 142 million tonnes by 2030. However, the first production unit at North Field East is now expected to start in the first half of 2027, previously slated for 2026, and later units could slip if disruption prevents equipment from reaching Qatar. North Field South is expected to begin production in 2028. Qatar currently exports only a small volume of LNG through the strait. Al-Kaabi said undamaged units at Ras Laffan could return to normal operations within weeks of Hormuz reopening. Attacks on Ras Laffan in March damaged two LNG production units and reduced export capacity by around 17%; Al-Kaabi said repairs would take three years, while a damaged gas-to-liquids unit is expected to be repaired in the first quarter of 2027. Outside the Gulf, the first unit at Golden Pass LNG in the United States has begun shipping cargoes, with the second and third units expected to be fully operational next year. Al-Kaabi also said QatarEnergy expects to become the world's largest LNG trader "in the very near future." The disruption has weighed on the economy, with GDP falling 7% year on year in the first quarter of 2026.
At a special edition of the Qatar Economic Forum in New York, Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani launched Doha Investment, an investment and economic growth management platform, and announced more than $60bn (around €52bn) in projects and opportunities over five years. This comprises approximately $38.5bn (€33.5bn) in new infrastructure projects, including public-private partchips, with first tenders due to begin immediately, and $22.5bn (€19.6bn) in real estate and hospitality projects expected to attract private investment. These programmes are separate from Doha Investment itself, which will oversee the QIA's existing domestic portfolio, including Qatar Airways Group, QNB Group, Ooredoo Group, Qatari Diar, Katara Hospitality and Hassad Food.
Minister of Commerce and Industry Sheikh Faisal bin Thani Al Thani will serve as managing director and vice-chairman of Doha Investment. He said the platform initially covers 45 companies operating in more than 80 markets, with more than 20 posting annual revenue above 1bn riyals (€232m) in 2025. The portfolio spans financial services, transport and logistics, telecommunications, technology, property, hospitality, food and agriculture. Doha Investment will work with existing companies and help establish new businesses in advanced technology, manufacturing, supply chains and healthcare, and will work with local and international investors to expand private-sector participation.
The North Field expansion aims to lift Qatar's LNG capacity from 77 million tonnes a year to 142 million tonnes by 2030. However, the first production unit at North Field East is now expected to start in the first half of 2027, previously slated for 2026, and later units could slip if disruption prevents equipment from reaching Qatar. North Field South is expected to begin production in 2028. Qatar currently exports only a small volume of LNG through the strait. Al-Kaabi said undamaged units at Ras Laffan could return to normal operations within weeks of Hormuz reopening. Attacks on Ras Laffan in March damaged two LNG production units and reduced export capacity by around 17%; Al-Kaabi said repairs would take three years, while a damaged gas-to-liquids unit is expected to be repaired in the first quarter of 2027. Outside the Gulf, the first unit at Golden Pass LNG in the United States has begun shipping cargoes, with the second and third units expected to be fully operational next year. Al-Kaabi also said QatarEnergy expects to become the world's largest LNG trader "in the very near future." The disruption has weighed on the economy, with GDP falling 7% year on year in the first quarter of 2026.
At a special edition of the Qatar Economic Forum in New York, Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani launched Doha Investment, an investment and economic growth management platform, and announced more than $60bn (around €52bn) in projects and opportunities over five years. This comprises approximately $38.5bn (€33.5bn) in new infrastructure projects, including public-private partchips, with first tenders due to begin immediately, and $22.5bn (€19.6bn) in real estate and hospitality projects expected to attract private investment. These programmes are separate from Doha Investment itself, which will oversee the QIA's existing domestic portfolio, including Qatar Airways Group, QNB Group, Ooredoo Group, Qatari Diar, Katara Hospitality and Hassad Food.
Minister of Commerce and Industry Sheikh Faisal bin Thani Al Thani will serve as managing director and vice-chairman of Doha Investment. He said the platform initially covers 45 companies operating in more than 80 markets, with more than 20 posting annual revenue above 1bn riyals (€232m) in 2025. The portfolio spans financial services, transport and logistics, telecommunications, technology, property, hospitality, food and agriculture. Doha Investment will work with existing companies and help establish new businesses in advanced technology, manufacturing, supply chains and healthcare, and will work with local and international investors to expand private-sector participation.
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