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Qatar’s natural gas production is expected to reach 244bcm in 2030 and grow to 300bcm by 2050, Gas Exporting Countries Forum (GECF) has said in its Global Gas Outlook 2050.The focus on expansion and sustainability reflects Qatar’s strategic approach to energy development, balancing growth with responsible resource management, Doha-headquartered GECF said in its ‘Global Gas Outlook 2050’, which was released here on Monday.Qatar’s natural gas demand is projected to grow by 22bcm, reaching 71bcm by 2050, with an annual growth rate of 1.4%.Expanding LNG export production capacity and energy sector-related needs primarily drive this increase, GECF said.Qatar’s production stood at 169bcm in 2023, adding 4bcm primarily from the Barzan project, GECF noted.According to GECF, Qatar’s strategy focuses on expanding its LNG capacity, with gas production projected to reach 300bcm by 2050. This significant growth requires massive investments toward the North Field Expansion Project, the world’s largest natural gas reserve.These efforts aim to solidify Qatar’s position as a leading LNG exporter to Asia and Europe, strengthen its energy security, and align with global energy transition goals. Qatar’s stable investment environment, strengthened by long-termcontracts and established market access, further supports its growth as a reliable supplier in global energy markets.Qatar is also diversifying its gas use by investing in fertiliser production and low-carbon gas-based solutions, including the Ammonia-7 blue ammonia project, expected to begin operations in 2026.However, gas demand in power generation is expected to see only modest growth, GECF noted.Qatar aims to install 4GW of large-scale solar PV capacity by 2030, reflecting its commitment to renewable energy.GECF noted the Middle East’s long-term average annual growth rate is projected to reach 3% by 2050, reflecting a moderate slowdown compared to the historical average of 3.7% between 1996 and 2023.This deceleration is influenced by the maturing economies of key oil and gas exporters, including Qatar, Saudi Arabia, and the UAE, which are expected to collectively account for over 55% of the region’s GDP through mid-century.Long-term growth rates for these countries are forecasted at 3%, 3.2%, and 3.4%, respectively, signalling a gradual easing of economic momentum as these economies transition from reliance on hydrocarbons to more diversified economic models.According to the outlook, the Middle East is positioning itself as a global leader in blue hydrogen production, leveraging its proximity to extensive natural gas reserves.This strategic focus not only enables the production of low-carbon hydrogen but also fosters the establishment and expansion of hydrogen markets.By 2050, 14% of the total incremental gas use in the region is projected to be associated with low-carbon hydrogen production. State-owned companies and government funding are driving the development of hydrogen projects, supported by advancements in CCUS technologies.These initiatives will ensure the long-term viability of the natural gas sector while contributing to global decarbonisation goals, GECF noted.Across the region, growing demand for natural gas in industry and power generation is expected to account for 57% of the total growth, or an additional 163bcm by 2050.As an energy source and feedstock, industrial gas use is set to play a pivotal role, adding 83bcm over the forecast period. Expanding gas-to-chemicals, petrochemicals, fertiliser production, and light manufacturing industries will drive this growth.“Natural gas is expected to remain integral to powering water desalination through cogeneration facilities or membrane technologies reliant on electricity,” GECF said in its latest gas outlook.

There has only been a marginal rise in the number of announced greenfield FDIs in the GCC in 2024, according to Emirates NBD.In a recent research, the bank said the number of greenfield FDIs in the GCC grew just under 1% to 1,830 in 2024 from 1,813 in 2023.Despite the low pace of growth, the number of new projects remains well above the pre-Covid average.There does, however, appear to have been a decline in the average project value across the GCC, with the total value of projects having fallen by 26% year-on-year (y-o-y) in 2024.The primary sources of FDI into GCC economies in 2024, on a value basis, included the US (25%), China (17%), the UK (9%) and India (9%).The UAE also made a material contribution to greenfield FDI in the rest of the GCC, accounting for 5% of announced projects in 2024. Sectors seeing the highest value of greenfield projects include communications (18%), renewables (14%), metals (8%), electronic components (8%), as well as coal, oil and gas (8%).Global FDI flows declined in 2024 in both value and volume. UNCTAD estimates that the number and value of announced greenfield FDI projects declined by 8% and 7% y-o-y respectively.Despite the annual decline, the value of greenfield project announcements remains high by historical standards because of several large-scale projects related to the manufacturing of semiconductors and AI technology.The UAE features as the source country for two of the top 10 projects by value of investment, including a real estate investment into Ras El-Hekma in Egypt by ADQ and an investment by Mubadala in semiconductor manufacturing in the US.While the aggregate value of greenfield projects fell in 2024, there were pronounced differences across geographical regions.Developed economies saw a 15% y-o-y rise in the value of announced greenfield projects, disproportionately driven by large increases in the value of projects in the US (+93% y/y) and the UK (+32% y/y).In contrast, developing economies in saw a 24% y-o-y decline in the value of announced greenfield projects, Emirates NBD noted.

The Qatari insurers’ profitability metrics, particularly underwriting performance and return on equity (ROE), have outperformed those of other GCC insurers, S&P Global Ratings has said in a report.The other tailwind favouring local insurers, according to S&P, is that exposure to natural catastrophes and potential earnings volatility from weather events is relatively low in Qatar.However, S&P cautioned that Qatari insurers’ exposure to equity and real estate assets is high and could cause earnings and capital volatility.Despite ongoing geopolitical tensions and global trade disputes, S&P forecasts that economic conditions in the Gulf Co-operation Council (GCC) region will remain favourable in 2025.“We expect economic expansion, population growth, and mandatory insurance schemes will increase insurance demand in most GCC countries this year. Overall satisfactory underwriting results and relatively high interest rates will support earnings,” the report said.Yet, S&P noted that increasing competition and volatile equity markets could weigh on bottom line results. The size and profitability gaps between large and small companies will likely continue to widen.“Although we forecast that credit conditions of highly rated insurers in our portfolio will remain stable, we anticipate that the credit strength of some smaller and midsize insurers could continue to weaken. This is because ongoing topline growth, weak earnings, and high operating costs could impair these players’ capital and solvency buffers,” the report said.Ongoing infrastructure developments, introduction of mandatory insurance schemes, population growth, and rate adjustments have been key growth drivers, particularly in Saudi Arabia and the UAE, where the size of insurance markets doubled over 2020-2025.S&P projects top-line growth of about 5%-15% in most GCC insurance markets in 2025.Apart from the UAE, insurance penetration – measured by gross written premiums divided by GDP – remains relatively low in GCC countries, compared with other regions, S&P noted.However, GDP data in the GCC region captures the high income from the oil and gas sector, meaning insurance penetration ratios are distorted.Growth potential is significant, particularly in the long-term life and savings sector.The long-term life and savings business represents only 5% of total premium income in Saudi Arabia and Qatar.The rating outlooks on insurers in S&P’s portfolio, which typically comprises market-leading insurers, are mainly stable, supported by robust earnings and capitalisation.About 90% of rated insurers hold capital at the highest level, as per our risk-based capital adequacy model.“That said, we expect some rated and not rated smaller and midsize insurers could face headwinds in 2025 if competition further intensifies. This could widen the gap between top-tier and lower-tier insurers,” S&P said.

Qatar’s banking sector kicked off the year on a “positive note” with loan book and deposits making good gains in January, according to QNB Financial Services (QNBFS). Credit facilities extended by local banks increased by 1.9% during January to reach QR1,372.5bn. The loans rise in January was mainly due to a jump by 5.3% in the public sector. Loans went up by 4.6% in 2024, compared to a growth of 2.5% in 2023, growing by an average 5.4% over the past five years (2020-2024) Loan provisions to gross loans was marginally lower at 3.8% in January, compared to 3.9% in December 2024. Deposits went up by 1.3% during January to reach QR1,040.0bn. The deposits gain in January 2025 was mainly due to a surge by 1.5% in private sector deposits and a rise by 1% in public sector deposits. Deposits increased 4.1% in 2024, compared to a decline by 1.3% in 2023, growing by an average 3.9% over the past five years (2020-2024). Total assets edged lower by 0.3% during January to QR2.040tn, QNBFS data reveal. The total assets slide in January was mainly due to a decline by 2.3% in foreign assets and a 8.4% drop in reserves. Total assets gained by 3.9% in 2024, compared to a growth of 3.4% in 2023; assets grew by an average 5.7% over the past five years (2020-2024). Liquid assets to total assets moved lower to 30.2% in January, compared to 31.3% in December 2024, which still remains in a healthy position. Loan provisions to gross loans edged lower to 3.8% in January, compared to 3.9% in December 2024. Loan provisions have increased from 2.3% in 2019 to 3.9% in 2024 and 3.8% (as at January) as banks have been provisioning for Stage 2 and Stage 3 loans mainly emanating from contracting and real estate sectors. The overall loan book gained (by 1.9%) in January, pushed higher mainly by public sector loans, QNBFS noted. Total public sector loans rose by 5.3% MoM (+5.0% in 2024) in January. The government segment (represents 31% of public sector loans) was the main driver for the public sector gain with a jump by 13.3% (+3.6% in 2024), while the government institutions’ segment (represents 65% of public sector loans) moved up by 2.2% MoM (+7.7% in 2024). However, the semi-government institutions segment was marginally lower by 0.2% MoM (-18.0% in 2024) during January, QNBFS noted. According to an analyst “2025 has started on a positive note as both the loan book and deposits made good gains during January.” “The 1.9% rise in the overall loan book in January 2025 came mainly from the public sector as government credit facilities jumped by 13.3%, driven by government overdraft facilities shooting up by 26.5% in January and gives indication of increased government spending needs. The overall deposits growth of 1.3% at the start of 2025 has come in from all three main sectors, namely private sector, public sector and non-residents,” the analyst told Gulf Times.

Global trade growth, declining fuel costs, and the expansion of e-commerce continue to present positive prospects for the air cargo industry.However, concerns persist over the potential impact of tariff-driven trade policies under the Trump Administration in the United States.According to the latest data from the International Air Transport Association (IATA), global air cargo demand, measured in cargo tonne-kilometres (CTK), increased by 3.2% in January compared to the same period in 2024 (3.6% for international operations), marking the 18th consecutive month of growth.Meanwhile, cargo capacity, measured in available cargo tonne-kilometres (ACTK), rose by 6.8% year-on-year (7.3% for international operations).“January marked the 18th consecutive month of growth for air cargo, but the 3.2% year-on-year increase reflects a moderation from the double-digit peaks witnessed in 2024,” said Willie Walsh, IATA’s Director General.“Similarly, while yields remain above January 2024 levels, they declined by 9.9% from December, alongside a 1.5 percentage point drop in cargo load factors."External factors such as trade growth, lower fuel costs, and expanding e-commerce remain favourable for air cargo, but it is crucial to monitor evolving market conditions. The potential for tariff-driven trade policies under the US Trump Administration remains a significant uncertainty. Fortunately, the air cargo industry has demonstrated resilience in navigating shifts in the operating environment."Despite facing multiple headwinds, the air cargo sector has continued to chart a steady course toward growth. The potential imposition of US trade tariffs presents the latest challenge, with possible long-term implications for cargo volumes.In the short term, however, there may be an uptick in shipments as businesses accelerate deliveries ahead of tariff implementation.Following a double-digit increase in CTKs in 2024, the air cargo sector now accounts for 15.6% of total industry revenues, up from 12% in 2019. Growth has been observed across all regions and major trade routes.With global trade and GDP growth projected to remain stable at approximately 3%, 2025 is poised to be another strong year. IATA forecasts industry revenues to reach $157, driven by an anticipated 6% increase in demand.Additionally, air cargo yields remain about one-third above 2019 levels, with no indication of a return to pre-pandemic rates. “It appears there has been a structural improvement in the market since the pandemic,” Brendan Sullivan, IATA’s Head of Cargo said recently.The strength of e-commerce is a key growth driver, with the sector expected to represent an increasing share of air cargo business. Currently accounting for approximately 20% of industry-wide cargo shipments, e-commerce is projected to expand to at least one-third of all shipments in the coming years.By 2027, the e-commerce market is expected to reach $8tn, positioning the air cargo sector for significant gains if it can effectively adapt its offerings.Sustainability initiatives also play a crucial role in the industry's future. Circular economy principles, such as optimising the lifecycle of Unit Load Devices (ULDs), can help reduce waste while enhancing operational efficiency.Furthermore, Sustainable Aviation Fuels (SAF) are increasingly relevant, particularly as nearly half of all air cargo is transported in the belly hold of passenger aircraft, many of which are capable of incorporating SAF in their fuel mix.Nevertheless, the industry remains vulnerable to external risks. The prospect of US-imposed trade tariffs remains a pressing concern, with long-term implications for cargo volumes. However, there may be an immediate surge in shipments as businesses expedite deliveries before potential tariff enforcement.Trade tariffs must also be considered within the broader context of customs regulations. While such measures are generally unwelcome, they could serve as a catalyst for discussions on improved digitalisation and streamlined clearance processes, addressing a longstanding challenge for the sector.Operating within a highly interconnected global environment, the air cargo industry remains susceptible to geopolitical tensions, including trade disputes, economic sanctions, armed conflicts, and regulatory changes.As such, adaptability and resilience will be critical in navigating the evolving landscape and ensuring continued growth.

QatarEnergy celebrated the graduation of a new group of Qatari nationals who have successfully completed their academic studies and vocational programmes and have joined QatarEnergy and other energy sector companies.The graduates will be working with QatarEnergy, QatarEnergy LNG, QAFCO, Shell Qatar, North Oil Company, Woqod, Q-Chem, ORYX GTL, QAFAC, QAPCO, Qatalum, and Qatar Steel.HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, also the President and CEO of QatarEnergy, congratulated the graduates in remarks at the celebration, and thanked their parents and families for the support they provided.The minister also thanked all those involved in the education and training programmes in QatarEnergy and its affiliates for their efforts in supporting the students and following up on their progress.Minister al-Kaabi said: “You are embarking on joining a major phase in the history of QatarEnergy and the Qatari energy sector, in which Qatar is taking leadership positions among the largest producers of LNG, petrochemicals, urea, and helium.“Being with us at this particular stage is a major challenge to bring about all the thinking, achievement, and creativity you can offer. You must remember that the path to success is not easy or paved with roses, but it requires work, commitment, and discipline. I wish you all every success in your tasks and duties at the beginning of your journey and in the future.”At the end of the ceremony, Minister al-Kaabi handed certificates of appreciation to all graduates, along with symbolic gifts for outstanding graduates in their fields of specialisation.The ceremony was attended by senior executives and officials from QatarEnergy and energy sector companies.

The air transport industry delivered another year of strong overall performance on safety including showing improvements on the five-year average for several key parameters in 2024, but it took a step back from an “exceptional” performance in 2023.According to the International Air Transport Association (IATA), the all-accident rate of 1.13 per million flights (one accident per 880,000 flights) was better than the five-year average of 1.25 but worse than the 1.09 recorded in 2023.In its ‘2024 Annual Safety Report’ released on Wednesday, IATA noted there were seven fatal accidents last year, among 40.6mn flights. That is higher than the single fatal accident recorded in 2023 and the five-year average of five fatal accidents.There were 244 on-board fatalities in 2024, compared to the 72 fatalities reported in 2023 and the five-year average of 144. Fatality risk remained low at 0.06, below the five-year average (0.10), although double the 0.03 reported in 2023.In the Middle East and North Africa, with two accidents in 2024, the all-accident rate improved from 1.12 accidents per million sectors in 2023 to 1.08 in 2024 and was also better than its five-year average of 1.09.Fatality risk in the region has remained zero since 2019. While no accidents were related to GNSS interference, it has emerged as a critical area of concern in the region.IATA’s Director General Willie Walsh said: “Even with recent high profile aviation accidents, it is important to remember that accidents are extremely rare. There were 40.6mn flights in 2024 and seven fatal accidents. Moreover, the long-term story of aviation safety is one of continuous improvement.“A decade ago, the five-year average (2011-2015) was one accident for every 456,000 flights. Today, the five-year average (2020-2024) is one accident for every 810,000 flights. That improvement is because we know that every fatality is one too many. We honour the memory of every life lost in an aviation accident with our deepest sympathies and ever greater resolve to make flying even safer. And for that, the accumulation of safety data, including the 2024 safety report, is our most powerful tool.”Key safety insights include:• Rising conflict zone risks: The downing of two aircraft in conflict zones (Kazakhstan with 38 fatalities and Sudan with five fatalities) has reinforced the importance of the Safer Skies initiative, established in the aftermath of the PS752 tragedy to facilitate safeguards in high-risk airspace.• Most common accidents: Tail strikes and runway excursions were the most frequently reported accidents in 2024, underscoring the importance of take-off and landing safety measures. Notably, there were no controlled-flight-into-terrain (CFIT) accidents.• Airlines on the registry of the IATA Operational Safety Audit (IOSA) (including all IATA member airlines) had an accident rate of 0.92 per million flights, significantly lower than the 1.70 recorded by non-IOSA carriers.Walsh noted: “Accident investigation is a vital tool for improving global aviation safety. To be effective, the reports of accident investigations must be complete, accessible, and timely. Annex 13 of the Chicago Convention is clear that this is a state’s obligation. Burying accident reports for political considerations is completely unacceptable.“And if capacity is the blocker, then we need a coordinated global effort to provide technical support to countries with limited accident investigation expertise.”He added: "The sharp rise in Global Navigation Satellite System (GNSS) interference events is deeply concerning. Reliable navigation is fundamental to safe and efficient flight operations. Immediate steps by governments and air navigation service providers are needed to stop this practice, improve situational awareness, and ensure that airlines have the necessary tools to operate safely in all areas."

The global air travel industry has experienced a significant resurgence since the Covid-19 pandemic, though the pace of recovery has been uneven across different regions and sectors.As borders reopened and travel restrictions eased, demand surged in 2022 and 2023, signalling a strong rebound.Domestic travel led the recovery, particularly in top three markets - the United States, China, and India.Meanwhile, international travel took longer to regain momentum due to border restrictions, visa processing delays, and lingering concerns over new Covid-19 variants.By mid-2023, global passenger traffic had reached approximately 90% of pre-pandemic levels, with some markets even surpassing the 2019 figures.Airlines, which faced severe financial distress during the pandemic, saw a return to profitability in 2023. While leisure travel rebounded swiftly, business travel remained sluggish due to the rise of virtual meetings and corporate cost-cutting measures.However, premium travel segments, including first and business class, demonstrated resilience, supported by the growing trend of blended travel — combining business and leisure trips.According to the International Air Transport Association (IATA), 2024 underscored travellers' strong desire to fly, with demand increasing by 10.4%. Both domestic and international travel reached record levels.Airlines responded by optimising efficiency, achieving an average seat occupancy rate of 83.5% — a new industry high, driven in part by supply chain constraints that limited capacity growth.IATA data also revealed that, in 2024, international traffic exceeded its 2019 peak by 0.5%, with growth observed across all regions. Capacity remained 0.9% below 2019 levels, while the load factor improved by 0.5 percentage points to reach a record high of 83.2%.Middle Eastern airlines, in particular, experienced a 9.4% increase in traffic compared to 2023, with capacity rising by 8.4% and the load factor climbing to 80.8%. December 2024 saw a 7.7% increase in demand compared to the same period in 2023.GCC-based carriers have significantly contributed to the region's traffic growth.Highlighting aviation's broad economic impact, IATA Director General Willie Walsh stated: "Aviation growth reverberates across societies and economies at all levels through jobs, market development, trade, innovation, exploration, and much more."Looking ahead, industry leaders remain optimistic. Walsh projected continued growth in 2025, albeit at a moderated pace of 8.0%, aligning more closely with historical trends.However, he also emphasised the challenges ahead. "The tragic accident in Washington (in January) reminds us that safety needs our continuous efforts. Our thoughts are with all those affected. We will never cease our work to make aviation ever safer," he stated.On January 30, an American Airlines commuter jet collided with a military helicopter during a landing approach in Washington, DC, causing both aircraft to crash into the frigid Potomac River and killing some 67 people in the worst US commercial aviation disaster in years.Meanwhile, sustainability remains a top priority, with airlines committed to achieving net-zero carbon emissions by 2050. Despite record investments in Sustainable Aviation Fuel in 2024, SAF met less than 0.5% of the industry’s fuel needs due to supply shortages and high costs.Walsh called for greater government support, suggesting that prioritizing renewable fuel production and reallocating subsidies from fossil fuel extraction to sustainable energy initiatives could enhance energy security and economic growth.Clearly, the pandemic has forced airlines to reevaluate their financial strategies, focusing on cost efficiency, digital transformation, and fleet modernisation. Sustainability initiatives have gained traction, with significant investments in SAF and fuel-efficient aircraft.Additionally, industry consolidation has accelerated as airlines seek to strengthen their market positions.Airports have also embraced technological advancements, incorporating automation, biometric screening, and AI-powered operations to enhance efficiency and passenger experience.Despite strong growth prospects for 2025, concerns remain regarding economic uncertainties, geopolitical tensions, and their potential impact on the industry.Airlines continue to grapple with pilot and crew shortages, contributing to operational disruptions such as delays and cancellations.Additionally, evolving sustainability regulations and carbon emission targets will necessitate the adoption of greener technologies.While the air travel industry has largely recovered from the pandemic’s disruptions, it continues to evolve in response to shifting travel behaviours, economic conditions, and sustainability imperatives.The coming years are likely to bring further innovations, industry restructuring, and transformations in global travel patterns.Pratap John is Business Editor at Gulf Times. X handle: @PratapJohn.

Archer Daniels Midland Company, a global agricultural supply chain manager and processor, in cooperation with QNB, has launched ADM STF LLC at the Qatar Financial Centre (QFC).ADM is the first agro-commodity trader licensed in the QFC, setting a benchmark for agricultural and commodity trading entities seeking to enter the region.With an unmatched global asset base, unparalleled product portfolio, and indispensable experience and expertise, ADM is uniquely positioned to support the global food supply system, providing needed nutrition and nourishing the quality of life for billions of people across the world.Olivier Boujol, Vice President and Global Head of Structured Trade Finance at ADM, commented "The launch of ADM STF LLC in the Qatar Financial Centre marks an important milestone in our strategy to expand our presence in the Middle East. This new entity not only strengthens our ability to support the global food supply system but also helps utilise Qatar's dynamic business environment and growth opportunities.By establishing a foothold in this thriving economic hub, we are better equipped to meeting nutritional needs across the region.Commenting on this partnership, Khalid Ahmed Al-Sada, Senior Executive Vice President – QNB Group Corporate and Institutional Banking said: “Over the past decade, we have built a strong and successful relationship with ADM across various areas. We are proud to be one of their core relationship banks across the GCC and Middle East, and look forward to further strengthening our collaboration, by supporting their growing business interests in Qatar”.Qatar’s thriving business ecosystem and a vast array of growth opportunities have established the country as a rising economic powerhouse. Not only does this milestone set a significant precedent for growth in the agro-commodity sector, but it also encourages other international companies to expand their operations in Qatar and contributes to the diversification and long-term development of the nation’s economy.Fahad Badar, EGM, Chief Wholesale, and International Banking Officer commented: “We believe ADM’s licensing in QFC marks a pivotal moment for us as it reinforces the Bank’s role as a trusted financial partner for international businesses in Qatar. This achievement sets the stage for future growth in the agro-commodity sector and demonstrates Qatar’s ability to attract global companies.“We look forward to seeing further international businesses flourish in this dynamic market."QFC’s exceptional regulatory environment and competitive tax incentives have also enabled ADM’s smooth integration into QFC.Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, commented: “We are thrilled to welcome ADM as the first agro-commodity trader licensed under the Qatar Financial Centre. ADM’s establishment in Qatar highlights the strength of our business ecosystem and reinforces the country’s position as a gateway to regional and global markets.“This move also underscores the promising potential of Qatar’s agriculture and commodities trade sector, as well as its commitment to attracting world-class enterprises that drive economic diversification and sustainable growth.”Ends

Mesaieed Petrochemical Holding Company plans to invest QR2.5bn in capital expenditure over the next five years, Abdulla Yaaqob al-Hay, manager, Privatised Companies Affairs at QatarEnergy, said at the MPHC Annual General Assembly on Monday.He said MPHC spent QR415mn in 2024 on maintenance, safety, and environmental projects, including its share in a new PVC plant (QR219mn last year).The project is progressing as per the timetable for completion by second half of 2025, with a capacity of 350,000 tonnes per year.Furthermore, in the petrochemical segment, capital expenditure for this year focused on several key projects aimed at enhancing operational efficiency and sustainability, while upholding the best standards for HSE.In addition to adding value for shareholders and attracting investment opportunities, the Group has signed a memorandum of understanding (MoU) with key stakeholders to develop a state-of-the-art salt production facility under QatarEnergy’s TAWTEEN localisation programme.This facility will produce industrial and food-grade salt, ensuring Qatar’s self-sufficiency and supporting the local market. The Group is currently in the feasibility study phase and will announce progress in the future.In 2024, MPHC maintained its excellent HSE record, receiving international certifications, improving process safety, and achieving 17 consecutive years without heat-stress incidents at some facilities.MPHC, he said, remains committed to maintaining its position as a low-cost operator without compromising HSE standards.In his opening remarks, Ahmad Saif al-Sulaiti, Chairman, MPHC said, “In 2024, uncertainty and oversupply challenges persisted, complicating margin evolution amid softened global demand. Energy and commodity prices decelerated as global supply was restored, easing supply chain bottlenecks and allowing producers to restart capacities. This added pressure on global markets and influenced price trajectories.“Additionally, hawkish monetary policies to combat inflation led to high-interest rates, impacting global GDP, reducing consumer spending, and affecting demand for most commodities. Despite these hurdles, global downstream demand began to stabilise during the second half of the year.”He noted the supply and demand environment were impacted by several factors throughout the year. Notably, the global economic environment presented challenges, particularly in the first half of the year, which constrained consumer purchasing power and softened demand.Despite challenging macroeconomic conditions, MPHC demonstrated resilience and agility, achieving commendable results throughout 2024, even with segmental shutdowns.These turnarounds were essential to ensure the long-term reliability and efficiency of the assets, and maintaining the competitive edge in the market.“Our dedication to HSE, product quality, and comprehensive employee safety remains unwavering, ensuring operational reliability in accordance with international standards,” al-Sulaiti said.MPHC achieved a net profit of QR719mn in 2024 and recorded an earnings per share (EPS) of QR0.057.Considering the current market projections in both the medium and short terms, as well as the company’s capital spending and operational programs, the Company's Board of Directors proposed a second half 2024 dividend distribution of QR377mn, equivalent to QR0.03 per share.This brings the annual dividend distribution to QR0.057 per share for the full year. This dividend represents a 100% net earnings payout ratio.

QNB’s General Assembly approved the Board of Directors’ recommendation to distribute a cash dividend of 37% of the nominal share value (QR0.37 per share) for the second half of the year that ended on December 31, 2024.The total dividend distribution for 2024 amounts to 70% of the nominal share value (QR0.70 per share).The General Assembly also approved the Group’s financial statements for the year ended on December 31, 2024.Addressing the meeting, HE Ali bin Ahmed al-Kuwari, Chairman of QNB Group's Board of Directors, presented a report on the bank’s activities and financial position for the year that on December 31, 2024, and plans for 2025.He stated: “This evolution and these achievements over the last 60 years form a strong foundation to navigate future growth and development. Looking back at 2024, the global economic landscape presented both challenges and opportunities.“After expectations for moderate global growth and subsequent negative inflation surprises at the beginning of the year, activity increased and price pressures eased, creating a more positive macro environment. This allowed for the long-awaited initiation of monetary policy easing by major central banks from advanced economies.”“It gives me great pleasure to report that in 2024, we made significant progress in realising our vision and strategy. Complementing our commitment to shareholders, we remain dedicated to our broader strategic objectives that underpin QNB’s continued growth and leadership. QNB’s vision is to maintain its position as the leading bank in MEA, which is aligned with our purpose to promote prosperity and sustainable growth across the markets we serve,” HE al-Kuwari added.QNB Group delivered a strong performance in 2024, achieving a net profit of QR16.7bn, up 8% on the previous year, and an operating income of QR41.3bn, an increase of 6%.As a result, QNB remains one of the world’s top 50 banks in terms of market capitalisation, reaching QR159bn.The General Assembly also approved the amendment of QNB’s Articles of Association in accordance with the Corporate Governance instructions issued by the Qatar Central Bank.The Group is also recognised as the highest-rated banking institutions in the region from leading rating agencies, including Standard & Poor’s (A+), Moody’s (Aa2) and Fitch (A+).QNB Group currently ranked as the most valuable bank brand in the Middle East and Africa region.

Global primary energy demand is projected to increase by 18% by 2050, with natural gas emerging as the second-fastest-growing energy source after renewables, according to Mohamed Hamel, Secretary-General of the Gas Exporting Countries Forum (GECF).He was participating in the ‘15th IEA-IEF-Opec Symposium on Energy Outlooks’, at the King Abdullah Petroleum Studies and Research Centre (KAPSARC) in Riyadh recently.Hamel presented key insights from the forthcoming GECF Global Gas Outlook, scheduled for release on March 10.He underscored the fact global gas demand is expected to rise by 32% by mid-century, with no peak in sight before 2050—driven largely by developing economies, and by the shift from traditional biomass to LPG for cooking, coal-to-gas switching, stabilisation of renewable-heavy power grids, petrochemicals, and fertilisers for food security.He noted the emerging influence of artificial intelligence on energy demand, citing its impact on data centre power consumption and total factor productivity.However, Hamel cautioned that it is still too early to fully assess AI’s long-term effects on the economy, employment, and consumption patterns.Turning to investment needs, Hamel emphasised that cumulative capital requirements for upstream and midstream natural gas infrastructure are estimated at $11tn. He warned that halting investments could lead to supply shortages and extreme market volatility.Hamel also covered supply, trade, investments as well as emissions. He stated: "While a significant decline of greenhouse emissions is expected, we do not see a realistic pathway to net-zero by 2050."He stressed that carbon capture, utilisation, and storage (CCUS), along with direct air capture (DAC), will be essential to achieving net-negative emissions, which are essential for limiting global temperature rise to below 2C by 2100.GECF secretary-general concluded by reaffirming: "Natural gas is not merely a bridge to the future—it is a key pillar of the energy future."

An Ookla study has revealed that Qatar offers one of the best 5G roaming speeds globally, facilitating an enhanced digital experience for visitors. A study based on 'Speedtest Intelligence' data by Ookla, a global leader in connectivity intelligence, has revealed that GCC nations offer some of the best 5G roaming speeds globally, facilitating an enhanced digital experience for visitors. The study assessed the mobile user experience of inbound roamers visiting Gulf countries, including Kuwait, Qatar, Saudi Arabia, and the UAE, in 2024 and compared it with their home network experiences. Karim Yaici, Lead Industry Analyst for the Middle East and Africa at Ookla, said: “Mobile connectivity is a critical factor shaping one’s travel experience by enabling visitors to stay connected with their family and friends, use essential navigation features, locate tourist attractions, access restaurant reviews, and share their experiences on social media. By leveraging 5G technology’s capabilities when roaming, users can access high-speed internet, stream HD videos, and perform lag-free video calls.” Yaici stated: “At Ookla, we are committed to analysing, understanding, and improving connected experiences, in line with our vision to create a world with better connectivity. We also uphold the principles of neutrality and independence in all our analyses.” The research revealed that many travellers visiting Qatar, the UAE, and Kuwait enjoyed top speeds on 5G networks, with median download speeds over 5G reaching 381.05 Mbps in Qatar, 374.60 Mbps in the UAE, and 240.37 Mbps in Kuwait. It also revealed that visitors to the Middle East from Austria, Saudi Arabia, and Hong Kong were most likely to use 5G while roaming. On the other hand, travellers from Pakistan, India, and Egypt were identified as being least likely to use 5G while roaming. In the UAE, over 37% of roaming users anonymously identified by Speedtest were visitors from India, Saudi Arabia, Austria, Russia, and Hong Kong. However, their network experiences varied significantly, with Saudi Arabian and Russian travellers experiencing the fastest download speeds across all technologies and over 5G. Russian tourists experienced more than a threefold increase in median download speeds compared to their home networks. On the other hand, travellers from Austria, India, and Hong Kong experienced comparatively lower performances in the UAE. Saudi visitors to Kuwait experienced a high 5G roaming speed of 240.37 Mbps, but their 'all technologies' speeds were around 40 percent lower than 5G. As the Gulf Cooperation Council (GCC) rapidly evolves into a global tourism and business hub, the demand for seamless high-speed connectivity is also increasing. This is further bolstered by the fact that the travel and tourism market in GCC is poised to sustain its ongoing expansion in coming years, generating $9.57bn in revenue in 2029, growing from an estimated $8.32bn in 2025 at an annual growth rate of 3.56%. This growth will be driven by the region’s ongoing infrastructure investment, world-class amenities, and the availability of simplified visa policies streamlining the tourist entry process. Such a strategic focus on tourism empowers regional mobile operators to leverage 5G roaming as a key revenue driver.

Invest Qatar and Invest India have signed an agreement to strengthen the bilateral investment relationship and foster economic collaboration between Qatar and India.The strategic partnership was announced by Invest Qatar and the National Investment Promotion & Facilitation Agency of India (Invest India) in New Delhi on the sidelines of the official visit of His Highness the Amir, Sheikh Tamim bin Hamad al-Thani to India.A memoranda of understanding (MoU) signed in this regard has set the foundation for enhanced co-operation in investment facilitation. It also enables the exchange of knowledge, insights and best practices on investment regulations and processes in both countries.According to the terms of agreement, Invest Qatar will work closely with Invest India to enable mutual support in business setup, stakeholder engagement and aftercare services.Additionally, the partnership establishes a framework for joint initiatives, including training programmes, business events and conferences, further strengthening the connection between Qatari and Indian businesses.The agreement was signed by Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar and Nivruti Rai, Managing Director and CEO of Invest India.Commenting on the new partnership, Sheikh Ali said: “We are pleased to join efforts with Invest India toward deepening our economic collaboration. India has long been a key trade and investment partner for Qatar, and through these agreements, we aim to unlock new opportunities that will drive sustainable growth in both economies.“By fostering stronger connections between our business communities and streamlining investment facilitation, we reinforce Qatar’s commitment to positioning itself as a global investment hub aligned with the Qatar National Vision 2030.”Nivruti Rai said: “India is one of Qatar’s significant investment partners, with over 50 years of collaboration across key sectors, such as renewable energy, metals and IT services. During the Joint Working Group meeting in Doha last year, both countries identified high-potential industries, including pharmaceuticals, food processing, infrastructure, technology, smart cities, and advanced manufacturing.“We are looking forward to a fruitful relationship with Invest Qatar to drive each other’s national priorities, such as the recently announced commitment from Qatar to invest $10bn in India.”

Qatar continues to lead LNG exports to the global market by GECF member countries, which constitute 48% of the total, latest data reveal.Some 557 LNG cargoes were exported globally in January this year, the Doha headquartered Gas Exporting Countries Forum (GECF) said in its latest report.Compared with the previous year, Indonesia delivered six more cargoes in 2025 thus far, Angola, Mexico and the US all increased shipments by three.Angola recorded the largest percentage increase in 2025 thus far, at 100%, followed by Mozambique at 67%, the report said.Spot charter rates for LNG carriers continued the downward trend of the recent months, GECF noted.In January this year, the monthly average spot charter rate for steam turbine LNG carriers again fell by 2% m-o-m, to now reach $6,300 per day.Moreover, this average charter rate stood at 83% less than one year ago, and was $54,600 per day lower than the recent five-year average price for the month of January.Charter rates for the other segments of the global LNG carrier fleet also continued decreasing. The average spot charter rate for TFDE vessels fell by 9% m-o-m to reach $12,400 per day, while the average spot charter rate for two-stroke vessels fell by 11% m-o-m to reach $19,400 per day.Market fundamentals continued to influence the charter market. In Europe, spells of colder than average temperatures have prompted higher demand from gas storage.This driver, along with the ending of the transit of Russian pipeline gas through Ukraine, has tightened the regional balance, and consequently drawn cargoes away from Asia to Europe.With the market already saturated with excess shipping capacity, the shorter voyages from Atlantic Basin suppliers to Europe is keeping downward pressure on charter rates.In January, the average price of shipping fuels increased slightly, by 6% m-o-m, to reach $560 per tonne.While this average price was 5% lower y-o-y, it was also 7% greater than the recent five-year average price for that month.Last month, the LNG spot shipping costs for steam turbine carriers increased slightly, by just up to $0.07/mmBtu on certain routes.This, GECF noted, was driven by the relatively small increases in the cost of LNG shipping fuels and the delivered spot LNG prices, juxtaposed with the small decline in the average LNG carrier spot charter rate when compared with the previous month.Compared to one year ago, in January 2025, the monthly average spot charter rate was much lower, while the delivered spot LNG prices were marginally higher.Consequently, LNG shipping costs were up to $0.41/mmBtu lower than in January 2024, GECF said.

Qatar’s LNG exports reached a “record monthly high” of 7.71mn tonnes in January, operating well above its designed nameplate capacity, the Gas Exporting Countries Forum (GECF) said in its latest report.In January, LNG exports from GECF member and observer countries saw a slight y-o-y decline of 0.5% (0.09 Mt), totalling 17.81mn tonnes.Despite this annual decrease, GECF’s LNG exports increased m-o-m, reaching their highest level since January 2024.At the country level, the decline in exports was driven by Algeria, Egypt and Nigeria, while Angola, Malaysia, Mozambique and Qatar partially offset the drop with higher LNG shipments.In Algeria, the decline in LNG exports was due to planned maintenance at the Arzew and Skikda LNG facilities and reduced feedgas availability, due to higher domestic gas consumption.In Egypt, LNG exports ceased in April 2024 due to declining gas production, which limited feedgas supply.Nigeria also saw a drop in LNG exports, driven by lower feedgas availability resulting from vandalism of gas pipeline infrastructure.Conversely, Angola and Malaysia recorded higher LNG exports, supported by improved feedgas availability. In Angola, increased gas production contributed to the rise, while in Malaysia, the lifting of force majeure on gas supply from the Sabah-Sarawak gas pipeline to the Dua Malaysia LNG facility boosted feedgas availability.According to Doha-headquartered GECF, in January this year, global LNG exports rose by 1.8% (0.67mn tonnes) y-o-y, reaching 37.83mn tonnes, the highest level ever recorded for January.This increase was driven by higher LNG exports from non-GECF countries and an uptick in LNG re-exports, which offset a slight decline in exports from GECF member countries.Non-GECF countries expanded their share of global LNG exports from 50.7% in January 2024 to 51.3% in January 2025, while LNG re-exports grew from 1.1% to 1.6%.In contrast, the share of GECF members declined from 48.2% to 47.1%.The US, Qatar and Australia remained the top three LNG exporters in January 2025, the forum said in its monthly report.In January 5, LNG exports from non-GECF countries reached 19.43mn tonnes, which represents a growth of 3.1% (0.59mn tons) y-o-y.While exports saw a slight decline compared to December 2024, they remained the second-highest monthly level ever for non-GECF countries.The rise in LNG exports was primarily driven by Indonesia, Mexico and the US, which offset lower exports from Australia and Norway.In January, global LNG re-exports surged by 40% (0.17mn tons) y-o-y to 0.59mn tons. This represents the second consecutive monthly y-o-y increase and the highest re-exports since February 2023.The stronger LNG re-exports came mainly from Brazil, China and Indonesia, which offset lower re-exports from Singapore, GECF noted.

Companies and professionals promoting the rationalised use of energy and resources, highlighting exemplary practices in energy efficiency, alternative energy, sustainability, and environmental protection will be considered for the ‘2025 Emirates Energy Award’, representatives of the Dubai Supreme Council of Energy said Wednesday.The Emirates Energy Award (EEA) in different categories, is a biennial regional prize launched in 2013.The ‘2025 Emirates Energy Award’ will be distributed in October, the Dubai Supreme Council of Energy officials said at a press conference.Administered by the Dubai Supreme Council of Energy, the EEA acknowledges the efforts of both public and private sectors in areas such as energy efficiency, energy projects, education, and research.The Emirates Energy Award is an international platform for public and private institutions, as well as individuals, to showcase their initiatives and achievements in energy management and conservation.It also highlights their effective contributions in supporting the use of clean and renewable energy sources, as well as environmental sustainability solutions.The award fosters energy conservation and raises awareness by recognising innovative and cost-effective practices that positively impact the Middle East and North Africa (Mena) region.Applications will be received from relevant organisations and individuals, with the Dubai Supreme Council of Energy conducting assessments and selections based on specific criteria.The Emirates Energy Award 2025 aims to raise awareness on sustainable technologies, not only through recognition and support, but also by creating opportunities for interaction with key stakeholders in the global technology sector.The award acts as a bridge between innovation, technology and sustainability, strengthening efforts at local, regional and global levels to ensure a sustainable and efficient energy future.As an international platform, the award allows institutions and individuals to showcase their contributions toward innovative, sustainable solutions addressing environmental challenges, climate change, carbon emissions and resource scarcity.The EEA also honours exemplary achievements in energy efficiency and related projects, encourages education and scientific research, and promotes creative ideas within the energy sector, with special recognition reserved for distinguished contributors.

The non-performing loan (NPL) ratio of Qatar banks has declined considerably indicating they are taking appropriate measures to reduce delinquency rate, according to the QCB.In its latest Financial Stability Report, the Qatar Central Bank said credit risk in the country’s banking sector as measured through NPL marginally increased by end December 2023 over the previous year.NPL from private sector credit increased by 0.4 percentage points, where the NPL from corporate sector stood below the sector average. Legacy NPL from the individual sector lead to double digit NPL from this sector. As noted in the previous sections, though interest rate continues to remain elevated during the year, quality of credit has not impacted significantly across all the economic sectors.The slippage ratio, fresh accretion to NPLs during the year from the performing credit at the beginning of the year, reduced to 0.41% in 2023 compared to 1.3% in the previous year.The incremental ratio of NPL, which measures the incremental change in NPL vis-à-vis incremental change in credit, also decreased significantly from 39% to 15.7% in 2023, KPMG said.“The decline in slippage ratio as well as incremental ratio coupled with only a marginal increase in gross NPL ratio shows the vulnerabilities of the banking sector from credit risk moderated as compared to last year,” the QCB said.Moreover, availability of sufficient coverage of delinquent loans through provisioning as well as availability of higher capital buffers above the regulatory minimum place the banking sector more resilient to adverse shocks.However, increase in vulnerabilities from stress on household sector and corporate sector balance sheet cannot be ruled out especially in an increasing interest rate scenario.Therefore, to assess the impact of probable credit risk from corporate and household sector, the QCB stressed the banking sector’s credit portfolio by assuming high NPL levels from credit provided to private sector.The stress period is considered as one year, the central bank noted. Economic sector wise credit is expected to grow by three-year Compound Average Growth Rate (CAGR) adjusted with a judgement based on expected macroeconomic environment.Assuming credit provided to consumption sector, contractors and real estate sector will be most affected due to slowdown in demand and decline in rental income, the stress scenarios considered higher percentage of performing loans turned delinquent.A moderate stress condition is assumed for all other sectors except public sector.The stress test results showed the capital ratios of the banks declined in the range of 2.4 to 5.3 percentage points. Individually, some of the banks need to augment their capital level to meet the prescribed minimum level of capital requirements.A reverse stress test - “stress to break-even” analysis - is also conducted to examine the threshold limits of NPLs up to which the banking sector can withstand without adversely impinging on its capital ratios below the threshold minimum.The analysis suggests, considering 12.5% as the benchmark minimum CAR required to be maintained by the banks, at least 12% of the performing loans of all the sectors excluding public sector as at end December 2023 has to migrate to non-performing so that the CAR breach the required minimum.“Thus, the credit stress tests results indicate, even though at individual bank level traces of risk can be identified, overall, the banking sector is at comfortable position owing to the availability of sufficient capital,” QCB noted.