Author

Higher oil prices will likely support bank liquidity in Qatar, despite rising exposure to construction and real estate and persistent foreign funding risk, according to Oxford Economics.Trade credit risk of the country – a measure of private sector repayment risk – is "very low" by regional standards at 3.0 (determined by Oxford Economics under its data-driven methodology) compared with the regional average of 6.1."The main factors underpinning this rating are Qatar’s macroeconomic stability, the credible and well-established exchange rate regime, robust growth, extremely high GDP per capita, and a healthy, well-developed banking sector.Although the country’s external debt burden became large due to heavy investment in a relatively short period of time, and trended up between 2013 and 2021, it has since declined," the researcher noted.Debt is balanced by the large but undeclared foreign assets (including over $40bn of official reserves), current account surpluses, sustained economic growth, and access to cheap external borrowing due to Qatar's high sovereign credit ratings.The country's large external surpluses have been invested abroad in property, financial, retail and other sectors by the Qatar Investment Authority (QIA), which is estimated by the Sovereign Wealth Fund Institute to have assets of more than $500bn. The aim is to reduce the state's reliance on oil and gas earnings.According to Oxford Economics, Qatar’s crude oil production will rise modestly this year and next.“Qatar isn't involved in the Opec+ pact on production quotas and its oil output has been relatively flat in recent years, at around 600,000 barrels per day.“We think growth in the energy sector will remain modest this year, following a 0.6% expansion in 2024, before picking up strongly in 2026-2027,” Oxford Economics said and noted the “gas sector is a priority.”Last year, the authorities doubled down on the North Field gas expansion project, which will have a positive medium-term impact. Qatar raised its liquefied natural gas capacity target to 142mn tonnes per year (mtpy) by end-2030.This is up nearly 85% from the current 77 mtpy, and up 13% on the intermediate target of 126 mtpy by 2027.The first production boost will come from the North Field East project by mid-2026, followed by the North Field South phase of the expansion.The North Field West phase is in its early stages, with construction likely to begin in 2027.Qatar is also making progress in contracting future gas output. The government has signed long-term supply contracts with India, China, France, Germany, Hungary, Kuwait, and Taiwan, the researcher noted.

LNG exports by GECF member countries and observers got a boost in May driven mainly by Qatar, the Gas Exporting Countries Forum said in its latest monthly report.The surge in Qatar’s LNG exports was supported by reduced maintenance activity compared to a year earlier, and production exceeding the facility’s nameplate capacity, GECF noted.In May, LNG exports from GECF member and observer countries jumped by 8.9% (1.31mn tonnes) y-o-y, reaching 16.11mn tonnes, which is a record high for the month.The stronger LNG exports came mainly from Qatar, Nigeria, Trinidad and Tobago and Angola, which offset weaker LNG exports from Malaysia and Algeria.Between January and May this year, GECF LNG exports increased marginally by 1% (0.79mn tonnes) y-o-y, reaching 82.40mn tonnes.In May, global LNG exports continued to grow sharply, rising by 8% (2.61mn tonnes) y-o-y to reach 35.1mn tonnes. This marked the 10th consecutive monthly year-on-year increase in LNG exports.Higher LNG exports from both GECF and non-GECF countries drove the overall growth, offsetting a decline in LNG re-exports, the report noted.Between January and May, global LNG exports increased by 5% (8.67mn tonnes) y-o-y to reach 180.91mn tonnes, primarily supported by non-GECF exporters, while exports from GECF countries and LNG re-exports grew to a lesser extent.Non-GECF countries were the largest LNG exporters globally in May 2025, with a market share of 54%, followed by GECF countries at 45.9% and LNG re-exports at 0.1%.Compared to May 2024, the market shares of non-GECF and GECF countries increased from 53.6% and 45.6%, respectively, while the share of re-exports declined from 0.8%.“The US, Qatar and Australia were the top three LNG exporters in May,” GECF said.In May, global LNG imports jumped by 6.9% (2.25mn tonnes) y-o-y to reach 34.75mn tonnes, marking a record high for the month.Europe continued to drive the growth in global LNG imports, followed by a smaller contribution from the Mena region, while Asia Pacific’s LNG imports remained subdued.The stronger netback for US LNG delivered to Europe, compared to Asia Pacific, along with weak LNG demand in the Asia Pacific region, supported the continued strong flow of US LNG into Europe.From January to May, global LNG imports totalled 181.66mn tonnes, reflecting a y-o-y increase of 4.2% (7.36mn tonnes), primarily driven by higher European imports.In May, the Mena region’s LNG imports surged by 94% (0.79mn tonnes) y-o-y, reaching 1.6479mn tonnes, driven mainly by Egypt and Kuwait.Between January and May, the Mena region’s LNG imports doubled, increasing by 2.65 Mt to reach 5.3479mn tonnes.Increased LNG imports in Egypt have compensated for declining domestic gas availability to meet its gas demand. Furthermore, higher gas demand has boosted Kuwait’s LNG imports, GECF noted.

Beyond the TarmacAccommodating the strong demand for air travel requires new technologies, harmonised regulations, and fit-for-purpose infrastructure.The global body of airlines - IATA is collaborating with its members, industry partners and governments worldwide to enable airlines to deliver a more seamless, inclusive, and secure passenger experience while improving efficiency and lowering industry costs.Digital travel is a major component of this effort, the International Air Transport Association says.Travellers can store identity documents in a 'digital wallet' and then, by consenting to share their biometrics, pass through various airport checkpoints—such as bag drop, security, immigration, and boarding—without needing to show physical documents.In 2024, a proof of concept (PoC) using different digital wallets and travel credentials was tested with select travellers on the route between Hong Kong and Tokyo.Cathay Pacific, Hong Kong International Airport, Narita International Airport, Branchspace, Facephi, NEC, Neoke, Northern Block, and SICPA partnered in the PoC, which took place in a functioning airport environment, IATA noted in a report published during its Annual General Meeting in New Delhi early this month.The successful PoC—developed in the IATA Data and Technology Hub—integrates seven verifiable credentials (e-passport copy, live biometric image, visa copy, company ID, frequent flyer membership, retail order, and boarding pass); two digital wallets; and a trust registry to verify issuers.This validates the flexibility of the required technology across travel stages and jurisdictions.It also aligns with government efforts to adopt digital travel credentials based on International Civil Aviation Organisation (ICAO) standards.The European Union (EU), for instance, is preparing to issue digital wallets—a secure means of storing and sharing digital documents—to citizens and residents by 2027.Travel documentation: With passenger traffic set to double by 2040, optimising and enhancing airport processes will need to continue. Verifying passengers’ travel documentation is one of the more time-consuming tasks which will benefit from further automation.IATA’s ‘Timatic Suite’ of products, which includes ‘Timatic Autocheck’, has evolved over decades, earning the trust and reliance of both industry professionals and travellers.Annually, more than 1bn passenger document checks are performed through Timatic. The recent redevelopment of the Timatic Suite of products marks an important progression in simplifying and streamlining the offering to enhance the experience for passengers and users alike.This includes the relaunch of ‘Timatic Web’. With a new Ease of Travel index and an enhanced interface, Timatic Web makes it easier than ever for airlines and travel organisations to provide travellers with real-time updates to help them prepare for their journey.Modern airline retailing: IATA’s Modern Airline Retailing (MAR) initiative is expanding throughout the aviation value chain. Decades-old technologies, processes, and standards that were inhibiting customer centricity are being replaced by MAR’s 100% Offers and Orders typical of genuine retailing.This grants air travellers the same level of transparency on airline products and services that they get when they shop for consumer products online and regardless of where they shop and pay. Indeed, MAR fully integrates payment management.Moreover, travellers will no longer need to juggle reference numbers and various documents, such as passenger name records (PNR); e-tickets; and electronic miscellaneous documents (EMD). Instead, they will have an order detailing their purchase, and the airline internal processes of revenue accounting and reconciliation will be simplified.New Distribution Capability (NDC) messaging standard—integral to the offers phase of the Offers and Orders journey— is established, enabling the industry to focus on the transformation to MAR.This will further smooth passengers’ ability to purchase and receive air travel products and services seamlessly through their preferred channels and at a level of convenience and personalisation akin to genuine modern retailing.By 2026, the Passenger Standards Conference (PSC) aims to develop standards involving Offers and Orders communication, such as product taxonomy, tax integration, and interline data exchange.Importantly, all standards are being developed with a cross-functional approach to break down silos, IATA noted.In 2024, meanwhile, a survey by IATA of major IT providers found that significant progress was being made in the technical architecture that makes ‘Offers and Orders’ possible.The transition to Offers and Orders is thus gathering speed at airlines. The acceleration is demonstrated by the high-level industry transition roadmap released by IATA in November 2024.According to the roadmap, core solutions are anticipated by 2026, with adoption at scale expected from 2030. Leading airlines have already embarked on the journey.The journey to Offers and Orders will affect numerous airline departments. Finance departments, for example, will be transformed. Transactions will be transparent from booking to destination, eliminating the need for lengthy reconciliation processes.The move to transform payment standards has also begun. Conventional payment standards can have proprietary add-ons that lock in an airline to a particular product.Updating these standards will empower airlines to enhance value creation and ultimately offer customers additional preferred payment options.

Qatar's overall economic risk is well below that of Mena and the country’s levels of risk are consistently low, according to Oxford Economics.Geopolitics aside, fluctuations in oil and gas prices have dampened the pace of domestic activity and the impact of the pandemic exacerbated this.“But the government's strong fiscal position compared with its GCC peers infrastructure spending, and ongoing benefits for public sector workers likely cushioned demand growth, helped by elevated oil and gas prices,” Oxford Economics noted.According to the researcher, Qatar's overall economic risk score of 3.1 (ranked by Oxford Economics) is “well below” the Middle East-North Africa average of 5.2 and places Qatar 19th out of the 164 countries in its ranking.The economy's pace of growth has cooled since 2012, initially due to the moratorium on the North Field gas expansion, lower oil prices, and the associated fiscal austerity since 2014.Although the economy contracted in 2019-2020, it surpassed its pre-pandemic level in 2022 as growth recovered solidly.“The pace of growth eased in 2023 following the World Cup but is now picking up again, with a stronger rise expected in 2026-2027 as additional LNG capacity comes online,” Oxford Economics said.The market demand risk score of 4.0 is below the Mena average of 5.5, reflecting Qatar's high per capita income, large government reserves, and lack of overheating.The end of the GCC diplomatic dispute has supported demand, investment, trade, and project implementation, as well as the flow of people.The market cost risk score is 4.0, below the regional average of 5.4, reflecting contained inflationary pressures, a credible US dollar peg, and extremely high GDP per capita.After inflation turned negative in 2020, it climbed to 2.3% in 2021 and 5% in 2022 amid rising global food and energy prices and increasing demand in the run-up to the World Cup.Inflation subsided to an average of 3% in 2023 and 1.1% last year. But the researcher thinks it will rise to 2% in the medium term.Under Oxford Economics’ methodology, the exchange rate risk score is now 1.5, slightly up on six months ago but well below the Mena average of 4.1.The Qatari riyal is pegged to the US dollar at QR3.64, and the researcher sees a negligible chance of de-pegging in the near to medium term.The low risk score reflects the authorities' long-standing commitment to the dollar peg, as well as large foreign exchange reserves.Risk rose when the current account shifted into deficit in 2020. But the score improved in 2021 as the current account shifted back to surplus as exports recovered and oil and gas prices rebounded from the 2020 lows.The surpluses have been wide since, firmly in double digits. The researcher projects a surplus of 16.4% of GDP this year, down from 17.4% last year.Qatar’s sovereign credit risk score under the researcher’s data-driven methodology is 2.9, well below the Mena average of 4.7.The score reflects high per capita incomes, large government reserves, strong external finances, and political stability, it said.The budget deficit in 2017 was temporary, returning to a surplus in 2018, but began to narrow again in 2019 and, due to the slump in oil and gas prices, moved into a deficit of 2% of GDP in 2020.The balance returned to a small surplus in 2021and has remained in positive territory since.“We estimate a surplus of 2.8% of GDP this year, up from 0.7% in 2024, which marked the weakest annual outturn since 2021,” Oxford Economics noted.The country’s trade credit risk – a measure of private sector repayment risk – is very low by regional standards at 3.0, compared with the regional average of 6.1.“The main factors underpinning this rating are macroeconomic stability, the credible and well-established exchange rate regime, robust growth, extremely high GDP per capita, and a healthy, well-developed banking sector.“Higher oil prices will likely support bank liquidity, despite rising exposure to construction and real estate and persistent foreign funding risk,” the researcher noted.

QatarEnergy LNG remains at the “forefront” of rising vessel capacities (globally), ordering 24 new 271,000 cm (QC-max) vessels from China for delivery between 2028 and 2031, according to the International Gas Union (IGU).Globally, some 337 LNG vessels were under construction as of end-2024, IGU said in its ‘2025 LNG World Report’.Of the 64 newbuilds delivered in 2024, all have a capacity of between 174,000 and 200,000 cm.Vessels of this size remain within the upper limit of the Panama Canal’s capacity following its expansion in 2016. They also benefit from economies of scale, particularly as additional LNG capacity is developed in the US Gulf Coast (USGC) for long-haul delivery to Asia, IGU noted.Moving forward, 200,000 cm vessels, or larger, could find favour due to their economies of scale for long-haul voyages, especially for long-term charters, if some flexibility is maintained (Panama Canal, terminal compatibility, etc).The current orderbook for such ships comprises 37 vessels, each with a capacity of either 200,000 cm or 271,000 cm, scheduled for delivery between 2025 and 2031.The global LNG orderbook had 337 newbuild vessels under construction at the end of 2024, equivalent to 45.4% of the current active fleet, with deliveries stretching into 2031.This illustrates shipowners’ expectations that LNG trade will continue to grow in line with scheduled increases in liquefaction capacity, particularly from the US and Qatar, and fleet renewal demand from oncoming retirements of older, more inefficient vessels.An expected 97 carriers are scheduled to be delivered in 2025. The orderbook includes 21 icebreaker-class vessels for the Arctic LNG 2 project in Russia.These vessels are highly innovative and require high capital expenditure (CAPEX) which grant them the capability to traverse the Arctic region.Due to the Russia-Ukraine conflict, these vessels have faced a risk of delayed deliveries or cancellations due to international sanctions on Russia that have complicated equipment delivery and payments.IGU also noted the current global LNG fleet is relatively young, considering the oldest operational LNG carrier was constructed in 1977.As of end-2024, some 84.9% of the fleet is under 20 years of age, consistent with the rapid growth of liquefaction capacity since the turn of the century.Additionally, newer vessels are larger and more efficient, with superior project economics and emissions performance over their operational lifetime.In total, some 7,065 LNG trade voyages were undertaken in 2024, a 0.9% increase from the 7,004 seen in 2023, IGU said.This is in line with minimal growth in LNG production. While Asia remains the dominant demand centre with 4,609 trade voyages, European trade voyages declined by 13% to 1,929 in 2024 due to weak market fundamentals through most of 2024, with Europe importing just over 100mn tonnes.

Qatar’s non-energy economy is expected to grow steadily in 2025, Oxford Economics said and noted tourism has provided significant support to non-energy growth and will remain a driver of future activity and employment.“Output data reported in April showed the non-energy economy expanded by 3.4% last year, and we project the same pace of growth in 2025,” Oxford Economics said in its latest country report.Tourism has provided significant support to non-energy growth and will remain a driver of future activity and employment, it said.Qatar welcomed 5.1mn overnight arrivals in 2024, a 25% increase on 2023 and 138% higher than 2019 levels.“The launch of the pan-GCC visa will likely help extend the positive performance and we forecast arrivals to increase to 5.3mn this year,” Oxford Economics said.The researcher’s 2025 average inflation estimate remains at 1%, the lowest in the GCC region.Oxford Economics said it thinks any upward pressure on imported inflation from recent US dollar weakness (via the currency peg) will likely be offset by the dampening effect of tariffs on global demand.Qatar’s annual inflation rate was negative in the first quarter (Q1) for the first time since early 2021. Prices fell by 0.8% q-o-q in seasonally adjusted terms, led by declines in food prices and the cost of recreation and culture. The 3.2% y-o-y fall in food prices in Q1 was among the largest in the current series. The drag from the housing and utilities category on annual inflation deepened, with prices falling by 4.5% y-o-y, the most since Q3 2021.“We still expect inflation to settle at around 2% in the medium term,” the report noted.The Qatar Central Bank followed the US Federal Reserve in holding interest rates steady in May, continuing the pause from January this year.In 2024, the US Fed delivered a cumulative 100bps of cuts.Meanwhile, the QCB cut rates by a total of 115bps, with the lending rate at 5.1%.“In the coming months, we think the QCB’s rate moves will echo those in the US, as we continue to expect the Fed to stay on pause until December. Our baseline anticipates a further 100bps of cuts next year,” Oxford Economics said.The 2025 budget targets a deficit of QR13.2bn (1.6% of projected GDP). The authorities plan to raise spending by 4.6% relative to last year’s budget and 1.2% relative to realised expenditure, with a strong focus on development in education and healthcare.The budget assumes an average oil price of $60/ barrel, Oxford Economics noted.

Information technology adoption across the global airline industry has been steadily rising, with IT investments reaching nearly $50bn last year, according to V K Mathews, founder and executive chairman of IBS Software — a technology partner to the global aviation sector.“Today, airlines typically allocate about 5% of their revenue to technology. A decade ago, that figure stood at just 2%. In essence, the industry’s IT spend has more than doubled over the past 10 years,” Mathews stated in an interview with Gulf Times.He emphasised that in today’s aviation landscape, underinvestment in IT is often a sign of organisational weakness. Drawing on his extensive experience—including a 15-year tenure with the Emirates Group in Dubai where he spearheaded the airline's global IT strategies—Mathews has been a key contributor to some of the industry's notable growth stories.Highlighting the transformative trends shaping the aviation sector, Mathews pointed to personalisation, disintermediation, and aggregation or virtualisation as three defining shifts.“In the past, the industry was largely supply-driven. Now, it is increasingly demand-focused,” he noted.“Airlines are prioritising personalisation—offering passengers what they want, rather than simply what is available. To do this effectively, they must understand customer profiles and preferences at a granular level.”Disintermediation — removing intermediaries to create direct relationships with customers — is another significant shift. This allows airlines to streamline the delivery of products and services.Meanwhile, aggregation or virtualisation enables carriers to offer services they may not directly produce or operate.“With digital connectivity, airlines can now act as travel platforms, aggregating services from partners and elevating their role to that of total travel management providers,” Mathews explained.An alumnus of the Indian Institute of Technology (IIT) Kanpur and Harvard Business School, Mathews is optimistic about the future of global aviation.He sees immense potential, particularly in fast-growing markets like India, and envisions a sector increasingly defined by next-generation technologies.“The future of aviation will be shaped by advanced tools such as biometrics, artificial intelligence (AI), blockchain, and the Internet of Things (IoT),” he said.“These innovations will not only enhance safety and efficiency but also enable a more seamless and personalised passenger experience.”Founded in 1997 by Mathews with just 55 engineers and one client, IBS Software has grown into a global enterprise with a presence in over 35 countries and a customer base exceeding 150 airlines and travel companies. Today, it employs more than 5,000 professionals representing 42 nationalities.Looking ahead, Mathews underscored the centrality of technology to the continued growth of airlines, especially in emerging markets. “Technology is the backbone — from operational efficiency in areas like crew scheduling and flight operations to transforming into modern retail platforms. Ultimately, AI will enable deeper, more personalised engagement with travellers,” he noted.

Beyond the TarmacSustainable Aviation Fuel (SAF) is still costlier than conventional jet fuel due to technological, economic, and supply chain factors.SAF is still in its early stages, produced in relatively small volumes around the world. Clearly, economies of scale haven't kicked in yet — lower volumes mean higher costs per unit of sustainable aviation fuel.SAF production is expected to grow to 2mn tonnes (Mt) in 2025, accounting for just 0.7% of airline fuel use, according to Willie Walsh, IATA’s Director General.SAF production will double from the 1Mt produced in 2024 (all of which was purchased by airlines), but production needs an exponential expansion to meet the demands of the industry’s commitment to net zero carbon emissions by 2050, Walsh said at the recent International Air Transport Association (IATA) Annual General Meeting in New Delhi.IATA estimates that the average cost of SAF in 2024 was 3.1 times that of jet fuel, for a total additional cost of $1.6bn. In 2025, the global average cost for SAF is expected to be 4.2 times that of jet fuel.This extra cost is largely the result of SAF 'compliance fees’ being levied by European fuel suppliers to hedge their potential costs as a result of European SAF mandates to include 2% SAF in the jet fuel supply.“The behaviour of fuel suppliers in fulfilling the SAF mandates is an outrage. The cost of achieving net zero carbon emissions by 2050 is estimated to be an enormous $4.7tn. Fuel suppliers must stop profiteering on the limited SAF supplies available and ramp up production to meet the legitimate needs of their customers,” Walsh noted.The cost of the Carbon Offsetting Reduction Scheme for International Airlines (CORSIA) to airlines is expected to reach $1bn in 2025.The market for CORSIA credits will grow, but Guyana is the only country to have issued certificates for the high-quality credits that the scheme requires.Since SAF is one of the key enablers for air transport’s net zero commitments, its production must be accelerated, IATA says.Net zero in every industry requires replacing the energy source – not the activity that relies on it.With the world relying on fossil fuels for over 80% of its energy consumption, IATA insists that this is a whole-economy issue, and that no single industry can achieve this on their own.All governments must maximise renewable energy, and renewable fuel production, for all.This, in turn, will maximise also air transportation’s contribution to the global economy, and its ability to accelerate growth in most other industries, to achieve better economic and environmental outcomes for all.The top priority is to increase renewable energy and fuel production. In doing so, governments must be mindful of unintended consequences that often afflict new and immature markets, and take action to eliminate oligopolistic pricing behaviour.Governments must eliminate legacy policies as well, that were warranted maybe 100 years ago, but that today stand in the way of the energy transition.“Looking at oil company profits, it is wholly unjustified to support their bottom lines with tax credits and handouts, and inexplicable why such support is not provided to renewable energy companies.“If redirected, the $1tn annually of favours to big oil could fund the energy transition in air transportation in less than five years. Air transportation is a uniquely global network and each uncoordinated action taken by an individual government will cause damage to it.” Global standards have made air transportation what it is today: the safest, most secure, and the by far the fastest mode of transportation in the world, providing unparalleled connectivity to more people and businesses than ever before, at an increasingly accessible price.IATA says it is providing essential market infrastructure to help create a global SAF market that is necessarily global, transparent, liquid, and accessible to all.It has launched a new international mechanism, the Civil Aviation Decarbonisation Organisation (CADO) to ensure immutable tracking of the environmental benefits of SAF purchases and their orderly claiming against regulatory obligations.Despite its environmental benefits, sustainable aviation fuel remains more expensive than conventional jet fuel mainly due to the scale of production and demand – supply imbalance.Traditional jet fuel is produced in massive volumes using decades-old infrastructure. SAF, by contrast, is still in its early stages, produced in limited quantities without the benefit of economies of scale.The demand for SAF is growing rapidly, but global supply is still very limited. That imbalance keeps prices elevated.Industry analysts, however, expect costs to fall — driven by innovation, scale, and policy support.But for now, SAF’s higher cost reflects the true environmental and technological investments required to decarbonise aviation.

Qatar’s 18.8% share of global LNG exports brings the joint LNG exports of the three largest exporters in 2024 to 60%, says the International Gas Union (IGU) in its latest report.Qatar’s exports slipped by 0.99mn tonnes to a total of 77.23mn tonnes in 2024, largely on par with the market’s nameplate capacity of 77.1mn tonnes, IGU noted in its ‘World LNG Report 2025’.Currently, Qatar is the third largest global LNG exporter. Ahead of Qatar are the US and Australia.Despite delays in new projects, the US defended its position as the world’s largest LNG exporter in 2024, exporting a total of 88.42mn tonnes, equal to 21.5% of global LNG output and up 3.89mn tonnes from 2023.Australia maintained its position as the second-largest exporter with export volumes of 81.04mn tonnes in 2024, up 1.48mn tonnes from the previous year, comprising 19.7% of global exports.Global LNG liquefaction capacity grew by 6.5mn tonnes per year (MTPY) in 2024 to a total of 494.4 MTPY by year-end.Despite capacity growth, the global average utilisation rate decreased slightly to 86.7% from 88.7% in 2023, due to maintenance, power disruptions, and a series of mechanical outages across various facilities.In terms of liquefaction capacity, as of the end of 2024, there were 22 markets operating LNG export facilities. The US remained the market with the largest operational liquefaction capacity, at approximately 97.5mn tonnes per year, with an increase of 4.5MTPY compared to 2023.Australia and Qatar ranked second and third with 87.6MTPY and 77.1MTPY, respectively, maintaining the same capacity as the previous year.“The top three LNG export markets currently represent more than half of global liquefaction capacity,” IGU noted.As of the end of 2024, there is 1,121.9MTPY of potential liquefaction capacity in the pre-FID stage, an increase of 75.3MTPY compared to 2023.With the Russia-Ukraine conflict still ongoing and a huge decline in Russian piped gas volumes in the market, a wave of proposed liquefaction projects has emerged to offset the loss of Russian supply.Some projects have also been fast-tracked to help meet demand. However, only a portion of pre-FID projects are going to proceed.According to IGU, global LNG demand is projected to stay on a long-term growth trajectory on the back of a strong increase in demand from markets in Asia and Asia Pacific.Although LNG contributes to global decarbonisation efforts by serving as a substitute for coal in power generation or for fuel oil in shipping, the LNG industry also needs to address emissions from its own supply chain.Cost inflation notwithstanding, these ongoing decarbonisation efforts continue to manifest themselves in an ever more efficient LNG fleet and innovative emission reduction measures undertaken by LNG projects worldwide, the report noted.

Qatar and other GCC countries, mainly the UAE and Saudi Arabia, have world-class hubs (airports) and fleets with strong government-backing, noted IATA regional vice-president Kamil Alawadhi.“Aviation in the Middle East is not developing evenly. The region contains some of the world’s richest and poorest countries, with stark gaps in aviation capacity and investment,” Alawadhi said referring to lower-income countries like Yemen, Lebanon, and Syria that face declining infrastructure, underfunded civil aviation authorities, and outdated fleets.“A coordinated regional approach is essential to narrow the gap,” Alawadhi said at a recent media event on the sidelines of IATA’s Annual General Meeting in New Delhi.Ongoing conflicts in Yemen, Syria, Iraq and Lebanon have resulted in prolonged airspace closures and significant disruption to flight operations.These conditions have weakened aviation infrastructure, eroded investor confidence, and limited access to critical markets, he said.Overflight restrictions, particularly around Iranian and Syrian airspace, have forced airlines to reroute — raising fuel consumption, increasing emissions, and extending flight times.Conflict zones also hinder intra-regional connectivity, slowing economic integration and impeding the mobility of people and goods; especially in countries that would benefit most from enhanced air access.Sanctions limit access to aircraft, parts, and finance, isolating some carriers from the global aviation system and hindering safety and growth.“While aviation has shown remarkable resilience amid political uncertainty, its full potential is unlocked in environments that are stable, peaceful, and open to international engagement,” Alawadhi said.Year-to-date (YTD) demand for Middle East, which compares January to April this year with January to April 2024, was up 6% in line with global average.Again, the YTD cargo performance for the Middle East region reflects some challenges and was down 5.3% during the period under review, he noted.According to Alawadhi, Middle East passenger numbers will double, reaching 530mn in 2043.Traffic will grow at an average annual rate of 3.9% over the 2023 – 2043 period, he said.Blocked funds remain a challenge in the region, Alawadhi said and noted the Africa and Middle East (AME) region accounted for 85% of blocked funds (globally).As of April, globally, there is a total $1.28bn in blocked funds.Of this, 85% is blocked in Africa and Middle East for a total of $1.1bn, and out of that, $919mn is tied up in African countries.“Significant improvements have been made in Nigeria, Egypt and Ethiopia over the last year, with Nigeria no longer on the list of blocked funds countries. However countries in AME continue to top the blocked funds list. Mozambique is currently withholding the largest amount of blocked funds globally, followed by the XAF Zone (Cameroon, Central African Republic, Chad, Republic of the Congo (Congo-Brazzaville), Equatorial Guinea, Gabon) and Algeria and Lebanon,” he noted.Alawadhi emphasised cash flow is key for airlines’ business sustainability - when airlines are unable to repatriate their funds, it severely impedes their operations and limits the number of markets they can serve.Reduced air connectivity hampers countries’ competitiveness, diminishes investor confidence and labels countries as a high-risk place to do business.Strong connectivity is an economic enabler and generates considerable economic and social benefits.“We call on governments to prioritise aviation in the access to foreign exchange on the basis that air connectivity is a vital key economic catalyst for the country,” Alawadhi added.

Qatar’s public spending will rise this year despite hydrocarbon revenue headwinds, Oxford Economics has said in its latest country outlook.The 2025 budget targets a deficit of QR13.2bn (1.6% of projected GDP). The authorities plan to raise spending by 4.6% relative to last year's budget and 1.2% relative to realised expenditure, with a strong focus on development in education and healthcare, according to the report.The budget assumes an average oil price of $60 per barrel.Oxford Economics said its 2025 Brent oil price forecast remains at $68.10/b. This is higher than what is assumed in the Qatar budget, underpinning its view of another budget surplus this year.“We project a surplus of QR23bn (2.8% of GDP), larger than the surplus of QR5.6bn (0.7% of GDP) realised in 2024. We see the balance improving to 5.7% of GDP next year amid the LNG production boost,” Oxford Economics noted.According to the researcher, Qatar’s April PMI signalled softer activity momentum at the start of the second quarter (Q2), driven by a reduction in new business, likely linked to US tariff announcements.Heightened external uncertainty also weighed on sentiment, pushing the rate of hiring to the lowest since August, even as it stayed elevated.Oxford Economics’ 2025 average inflation estimate (for Qatar) remains at 1%, the lowest in the GCC region.“We think any upward pressure on imported inflation from recent US dollar weakness (via the currency peg) will likely be offset by the dampening effect of tariffs on global demand.Qatar's annual inflation rate was negative in Q1 for the first time since early 2021. Prices fell by 0.8% quarter-n-quarter (q-o-q) in seasonally adjusted terms, led by declines in food prices and the cost of recreation and culture.The 3.2% y-o-y fall in food prices in Q1 was among the largest in the current series. The drag from the housing and utilities category on annual inflation deepened, with prices falling by 4.5% y-o-y, the most since Q3, 2021.“We still expect inflation to settle at around 2% in the medium term,” Oxford Economics noted.The Qatar Central Bank (QCB) followed the US Federal Reserve in holding interest rates steady in May, continuing the pause from January.In 2024, the US Fed delivered a cumulative 100bps of cuts.Meanwhile, the QCB cut rates by a total of 115bps, with the lending rate at 5.1%.“In the coming months, we think the QCB's rate moves will echo those in the US, as we continue to expect the Fed to stay on pause until December. Our baseline anticipates a further 100bps of cuts next year,” Oxford Economics said.

The global airline industry is optimistic about long-term growth, which is based on various macroeconomic and demographic trends around the world. But a shortage of aircraft — driven by supply chain disruptions, production delays, and labour shortages — is limiting capacity expansion.Rising global population, higher incomes and affordability and pent-up demand post-Covid, are obviously driving the airline industry’s long-term optimism.More people certainly means more potential passengers, especially in major emerging markets such as China and India.Urbanisation and growing middle classes in other parts of Asia, and Africa and Latin America are expanding demand for both domestic and international air travel.Gross Domestic Product (GDP) is the traditional driver of airline economics. However, although global GDP growth is expected to fall from 3.3% in 2024 to 2.5% in 2025, airline profitability is expected to improve.This is largely on the back of falling oil prices, noted Willie Walsh, Director General of the International Air Transport Association (IATA). Walsh expects global airline industry’s net profit to exceed $36bn this year, improved from the $32.4bn earned in 2024.At the recent IATA Annual General Meeting in New Delhi, he projected total traveller numbers reaching a record high of 4.99bn in 2025. While demand for airline seats is rising, airlines around the world face a supply constraint: they can’t get new planes fast enough!This shortage stems from several intertwined issues such as woeful production delays at major manufacturers Boeing and Airbus, supply chain disruptions, post-pandemic, and labour shortages.Walsh noted that the aircraft backlog exceeds 17,000 (sharply up from the 10,000-11,000 pre-pandemic), with an implied wait time of 14 years. “Should states exit from a multilateral agreement exempting aircraft from tariffs, supply chain constraints and production limitations could be further aggravated,” Walsh said.Supply chain issues have had significant negative impacts on airlines: driving-up leasing costs, increasing the average fleet age to 15 years (from 13 in 2015), cutting the fleet replacement rate to half the 5-6% of 2020, and reducing the efficiency of fleet utilisation (using larger aircraft than needed on some routes, for example). In 2025, some 1,692 aircraft are expected to be delivered, he said. Although this would mark the highest level since 2018, it is almost 26% lower than year-ago estimates. Further downward revisions are likely, given that supply chain issues are expected to persist in 2025 and possibly to the end of the decade.Engine problems and a shortage of spare parts exacerbate the situation and have caused record-high groundings of certain aircraft types, he said.The number of aircraft younger than 10 years in storage is currently more than 1,100, constituting 3.8% of the total fleet compared with 1.3% between 2015 and 2018. Nearly 70% of these grounded aircraft are equipped with PW1000G engines.“Manufacturers continue to let their airline customers down. Every airline is frustrated that these problems have persisted so long. And indications that it could take until the end of the decade to fix them are off-the-chart unacceptable!” said Walsh.According to industry analysts, aircraft shortage limits the ability of airlines to expand their routes or increase frequencies.Older, less fuel-efficient aircraft may stay in service longer (hurting margins and sustainability goals). Another challenge for airlines is that lease prices and second-hand aircraft values are surging.For passengers, this situation results in reduced availability of seats, especially on popular routes and during peak seasons. The supply-demand imbalance obviously means higher airfares.Walsh sounded a note of caution in the wake of conflicts in some parts of the world and trade tensions, which affect every nation on earth.The resolution of conflicts such as the Russia-Ukraine war would have a benefit for airlines in reconnecting de-linked economies and reopening airspace. Conversely, any expansion of military activity could have a dampening effect.Tariffs and prolonged trade wars dampen demand for air cargo and potentially travel. Additionally, the uncertainty over how the US trade policies will evolve could hold back critical business decisions that drive economic activity, and with it the demand for air cargo and business travel.Successful tariff negotiations and strategic collaboration across the value chain, along with investments in sustainability and operational efficiency, will therefore be essential to navigate various constraints and support long-term industry growth.

Beyond the TarmacAir passenger connectivity offered by airports in the Middle East, Gulf Co-operation Council (GCC) region in particular, posted an impressive 28% increase year-on-year in 2024, surpassing all post-Covid recovery forecasts.This, according to Airports Council International Asia-Pacific & Middle East (ACI APAC & MID), has been driven by strong international demand, robust network recovery, and the return of major travel corridors.Analysts say improved air connectivity is a reflection of the Middle East region’s strategic importance, economic vitality, and appeal to airlines and passengers. Since improved air connectivity facilitates trade, tourism, business travel, and global integration — these are integral to regional economic growth.The ACI Asia-Pacific & Middle East Air Connectivity Ranking is a comprehensive, passenger-centric analytical tool developed in collaboration with PwC in 2023 and refined for its third edition in 2025. The ranking evaluates the overall level of air passenger connectivity offered by airports across the Asia-Pacific and Middle East regions.It assesses performance through three fundamental building blocks: network scale and frequency, economic weight of destinations, and connection quality and efficiency.According to Airports Council International Asia-Pacific & Middle East, the Asia-Pacific region witnessed a remarkable 13% jump in overall connectivity compared to 2023, while the Middle East posted an impressive 28% increase, surpassing all post-pandemic recovery forecasts.On average, connectivity across all airports rose in both Asia-Pacific and the Middle East by +14%, a strong testament to the resilience and dynamism of the aviation sector.In Asia-Pacific, intra-regional connections are nearly back to pre-pandemic levels, trailing by just 0.2%. At the same time, intercontinental connectivity is on the rise, showing a solid 4% increase.The Middle East, however, isn't just recovering – it's setting a new pace. Both intra-regional and inter-continent connectivity have not only bounced back but have exceeded pre-pandemic levels by a significant margin of 18% and 16%, respectively.Commenting on the report, Stefano Baronci, Director General, ACI Asia-Pacific and Middle East, said: “Air connectivity is not only relevant for passengers seeking more travel options and convenience; it is equally crucial for supporting global trade and economic resilience, particularly through belly hold cargo capacity.”“While we celebrate this growth, we must remain forward-looking to ensure the momentum is sustained. Investment in airport infrastructure and technological upgrades is a prerequisite for enhancing connectivity, and airports across the region are undertaking significant investments to make this possible. In the face of growing geopolitical and trade tensions, we urge governments to prioritise air service liberalisation, streamlined visa policies, and transparent slot allocation frameworks. Lastly, we must not lose sight of the needs of small island and remote communities-- air connectivity remains their lifeline,” Baronci added.Rise of Airport City Clusters: The 2025 edition introduces a fresh dimension: An analysis of airport city clusters. Larger urban agglomerations like Shenzhen–Hong Kong–Macau, Tokyo, Shanghai, and Beijing dominate the new City Connectivity Index, demonstrating that the presence of multiple large airports enables higher flight frequencies and diversified routing options.Clusters such as Beijing and Shenzhen–Hong Kong-Macau have seen a substantial enhancement of connectivity through effective use of secondary airports. Seoul, Bangkok, and Taipei lead in per capita accessibility, offering exceptional connectivity relative to population size.Analysts see improved air connectivity in the GCC region reflecting a deliberate strategy by Gulf countries to position themselves as global aviation and economic hubs.Doha’s Hamad International Airport, Dubai, Abu Dhabi, Riyadh, and Jeddah have all undergone massive expansions.These GCC airports now serve as mega-hubs for international travel, offering seamless connections between the East and the West.Airports in the GCC now act as a midpoint hub for connecting passengers between continents. Improved transit facilities and airline alliances enhance the region’s attractiveness to global travellers.In the last two decades or so, GCC countries have either opened or increased frequencies on high-demand long-haul routes (e.g., to Europe, Asia, and North America). Enhanced intra-GCC connectivity also improves movement between Gulf States for business and tourism.Enhanced connectivity supports not just passenger travel but also air freight and cargo, making the GCC a logistics powerhouse. Doha and Dubai are cases in point.Improved air connectivity in the GCC denotes the transformation of the region into a critical global aviation and economic hub, driving diversification beyond oil and increasing regional and international influence. It clearly reflects a broader strategic vision that combines infrastructure development, airline growth, and geopolitical positioning.

Qatar’s payment system transactions totalled QR13.9bn through 50.5mn transactions in April, according to the Qatar Central Bank. Majority (58%) of these were through points of sale (PoS), while e-commerce accounted for 26%, QCB data reveal. Instant payment system (Fawran) had a 15% share of the payment system transactions last month while Qatar Mobile Payment represented 1% of the total. PoS transactions totalled QR8.05bn through 40.11mn transactions while e-commerce transactions valued QR3.54bn through 8.95mn transactions in April. Fawran registered 1.3mn transactions totalling QR2.11bn in April. The total number of Fawran registered accounts is 3.03mn. The QCB introduced the National Network System for ATMs and Points of Sale (NAPS), which is the central payment system, in 1996 to facilitate the acceptance of cards transactions (debit cards and prepaid) on ATM, PoS and e-commerce terminals throughout the GCC region and Egypt. Additionally, the system accepts cards issued by the QCB, GCC and Egypt regulated banks. According to the QCB, NAPS is one of the first switches in the region to achieve full (EMV) compliance both as an acquirer and issuer. The system was upgraded in 2023 in line with the latest global standards in cards industry. It is a round-the-clock service, which supports card tokenisation and card-less payments. All banks in Qatar are members of the National Network System for ATMs and Points of Sale. Fawran is considered one of the innovative and advanced services, in line with the third strategy for the financial sector in the country and in continuation of the QCB's efforts to develop the infrastructure of payment systems and keep pace with the latest developments in payment systems and electronic transfer of funds. It is designed in accordance with a system based on the latest technologies and security standards, to maintain the security and confidentiality of the information created by the QCB to enable financial institutions to provide the service to their customers with complete reliability. One of the most prominent advantages provided by the instant payment service is enabling bank customers to send and receive money in the country immediately, and within moments. It will also be available round-the-clock without interruption. Earlier, the QCB noted that the launch of the Fawran is part of the projects it has undertaken to enhance the country's payment system. This initiative plays a significant role in strengthening the financial sector, providing diverse payment options for all segments of society, facilitating payment processes, and reducing reliance on cash, thereby lowering associated costs.

Current healthcare expenditure (CHE) of Qatar is expected to grow at a compound annual growth rate CAGR of 8.3% until 2029, according to investment banking advisory firm, Alpen Capital.CHE in the GCC is expected to grow from an estimated $109.1bn in 2024 to $159bn in 2029, at a CAGR of 7.8%.The region’s expanding population base, high incidence of non-communicable diseases (NCDs), rising cost of treatment and medical inflation, coupled with increasing penetration of health insurance are expected to drive growth.CHE as a proportion of GDP in the GCC is anticipated to grow from 5% in 2024 to 5.7% in 2029.“The growth varies widely among the GCC nations largely owing to country-specific population projections, economic conditions and cost of healthcare among other factors. Saudi Arabia is likely to witness the highest growth rate at 8.8%, whereas the UAE’s healthcare industry is expected to grow at a CAGR of 6.7% during the forecast period,” Alpen Capital noted.The report forecasts that the region is likely to require 12,317 new hospital beds between 2024 and 2029. This translates into an estimated annual average growth of 1.9% since 2024 to reach a collective bed capacity of 140,572.Majority of the new additions are expected to be driven by the private sector as the GCC governments have started focusing on privatisation to reduce cost burden and increase standard of care. Saudi Arabia is likely to witness the highest demand for beds in the GCC at over 8,500 new beds, accounting for 69% of the region’s total additions during the forecast period, Alpen Capital said.The report highlights that economic growth, coupled with the governments’ focus on economic diversification, is expected to drive healthcare investments in infrastructure and human capital development.Key demographic trends – such as population growth, increasing life expectancy at birth, and improvements in infant mortality rate – are shaping the regions’ healthcare demand.Notably, the proportion of population over 50 years is projected to increase from 12.7% in 2024 to 13.8% in 2029, further intensifying the demand for specialised healthcare services.Additionally, the expansion of health insurance coverage and the rise in medical tourism are expected to boost the utilisation of private hospitals and healthcare services.Despite these strong growth drivers, the GCC’s healthcare sector faces several challenges, Alpen Capital noted.The industry remains highly reliant on foreign healthcare professionals across specialties. There also remains a gap in supply of specialised care units in the tertiary care segment, contributing to rising outbound medical tourism.Moreover, the cost of healthcare services continues to rise due to high prevalence of non-communicable diseases, increasing demand for advanced treatments, dependence on imported medical supplies, and a shortage of specialised treatment centres.In response, the GCC governments are actively promoting privatisation through public-private partnership (PPP) models to increase quality and efficiency of care. Significant investments in digital transformation aim to integrate innovative technologies for better healthcare outcomes.Another key trend, precision medicine and genomics are gaining traction with a goal of developing targeted treatments and therapies. Additionally, the rising demand for specialised and complex treatments is accelerating the establishment of Centres of Excellence (CoEs), long-term post-acute care (LTPAC) facilities and home healthcare services.As the sector continues to mature, PPPs are expected to bring about a shift in care delivery that will be pivotal in shaping the industry's landscape. With the GCC healthcare ecosystem becoming more digital and patient-centric, health-tech innovations present significant prospects for growth.Going forward, industry players are likely to focus on value-driven investments, with larger operators targeting smaller providers and tech-enabled healthcare firms to expand their service offerings."The GCC healthcare industry is poised for strong growth driven by macro-economic factors, a growing and ageing population, and the expansion of mandatory health insurance. Government-led diversification strategies and national development plans of the GCC will continue to enhance the healthcare infrastructure and facilities, bringing them at par with international standards. Further growth of the healthcare industry will be fuelled by privatisation initiatives, substantial investments in digital transformation and rising demand for specialised healthcare services, says Sameena Ahmad, Managing Director, Alpen Capital (ME) Limited.“The GCC healthcare industry is experiencing significant transformation, driven by a growing demand for specialised medical centres and increasing medical tourism. In response, private sector players are investing heavily to expand healthcare services and meet the needs of a diverse population. Key trends shaping the industry include the rapid adoption of artificial intelligence and digitalisation, which are enhancing diagnostics, patient care, and operational efficiency, says Olivier Tricou, Managing Director, Alpen Capital (ME) Limited.

Qatar and the GCC countries have the infrastructure most ready to utilise artificial intelligence (AI), noted HE the Minister of Municipality, Abdullah bin Hamad bin Abdullah al-Attiyah.Speaking at a panel session at the Qatar Economic Forum Wednesday, Attiyah said: "the GCC as a whole has the unique opportunity to lead in smart cities and actual use of AI in urban planning."“I always believe that the biggest place that can invest in AI is the Middle East, because we are already prepared. We have a very modern infrastructure... we have the cheapest energy in the world... and we have all the infrastructure ready for data centres. But yes, being smart, I totally agree, you need to be flexible, and you can diversify your real estate from offices to apartments, or from databases to energy transition, or to health centres.Al-Attiyah said: “And it seems that every time we have a global talk, real estate investors’ talk about it... like back in Covid, people were talking about health services and how it is very good to invest in health services.“And that was just two years ago. Now we are talking about databases because of AI. Honestly, I think in real estate (globally), there are very good opportunities, but it is really picking up from where it was last year. Interest rates are coming down, and I believe they will continue to come down.”“Obviously, there are some uncertainties. Geopolitical tensions and trade policies will put pressure on it. However, if you don't invest now, when will you then?Asked whether the neighbouring countries are posing competition to Qatar in developing infrastructure or real estate, al-Attiyah said: “I believe the whole Gulf is one country. We build on each other. Whatever good stuff happening in Saudi Arabia...the big boom and the big investments... we are benefiting from that. One of our biggest batch of tourists come from Saudi Arabia.“We are working very closely with Dubai as well. We are actually building on each other.”On Qatar, the minister said: “We are the safest country in the world. In Qatar, we have the best schools. We want to build on that.“We want a place where your lifestyle will be different, where you can see your children going to schools without the need to go through security. You have been to Qatar... you have been through our new cities...our smart cities... and you know what we have to deliver.”The minister noted that Qatar National Vision 2030 was built on learning from others.“We started late, when it comes to the infrastructure game. And that is why I am saying, we have the best infrastructure in the world, because we learned from everyone else. Who do you think were the consultants who built or designed our infrastructure? They are from the US...we had people from Singapore... from the UK. So, everything was put into that.“That is why I am saying, our infrastructure is the most ready to utilise AI, because we have all the data. AI cannot work without having the data to actually access.”Al-Attiyah also said the appetite for real estate will always be there.“While investing in real estate, it is important to note that quality does matter, location does matter. Real estate does go with the economy, but it will always have something that will pays one back. Now that people are getting back to offices, post-Covid, we need good quality new offices... they are in demand globally.“Real estate is a good place to invest in. There is a saying in Arabic... real estate can get ill, but it will never die!”

Qatar’s new Boeing order will cover the national airline’s strategy until 2045, Group Chief Executive Officer Badr Mohammed al-Meer has said.Last week Qatar Airways placed the largest aircraft order in its history with manufacturing partner Boeing.As part of its strategic fleet growth plan, the landmark Qatar Airways order includes up to 210 Boeing wide-body jets – 160 firm and 50 option, which is the largest wide-body order and the largest 787 Dreamliner order in the American aerospace company’s history.Qatar Airways has also signed an agreement with GE Aerospace for more than 400 engines, including 60 GE9X and 260 GEnx engines, with additional options and spares, to power its next-generation Boeing 777-9 and Boeing 787 aircraft – the largest wide-body engine purchase in the history of GE Aerospace. Participating in a panel session at the Qatar Economic Forum Tuesday, al-Meer said, “Qatar Airways will start receiving new aircraft from May 2029. Our airline still sees huge passenger demand; our load factor is highest in the industry at an average 85.6%. In certain sectors, we are talking about 95 to 96%, and we see this case continuing.”Asked why Qatar Airways made “such a big order’ and whether it “needs that many jets”, al-Meer noted, “For the last few years, and from what we see in the industry (now), the demand is still there. We have demand that today we cannot cater to. Our load factors are the highest in the industry and the highest in the history of Qatar Airways.”“Our financial year starts in April. Again, we have recorded the best April (2025) in the history of Qatar Airways. We are also going to record the best May in the history of Qatar Airways. From the advance booking that we see for June and July, and from the numbers that we see, I think we will be comfortable to say that first quarter (of this financial year) will be better by a big margin compared to the first quarter of last financial year.”On fleet expansion, al-Meer said, “We have started this process in March /April 2024. We have decided to create some sort of a competition between Boeing and Airbus and both engine manufacturers, Rolls-Royce and GE. This is to make sure that we get the best proposal or the best offer from both the engine manufacturers and aircraft manufacturers. It was a very close call between all of them.“At a certain stage, it was leaning towards Airbus, then it went to Boeing. At the end, it was a very close call, and we decided to go to Boeing, who provided us with a better commercial and technical proposal.”Asked whether another aircraft order from Qatar Airways can be seen in the next few years, he said, “For the time being, this is the order we have placed until we see how the market evolves.”Recently, Qatar Airways Group announced that it has registered a 28% growth in its profit for the financial year 2024/2025 to more than QR7.85bn, which is the “strongest set” of financial results in its history.The national airline’s profit shows an increase of more than QR1.7bn on the year before.Key achievements of Qatar Airways Group over the last financial year include 25% minority stake in Virgin Australia.Al-Meer said, “The investment in Virgin Australia was basically a strategic one. As you are aware, for so many years, Qatar Airways struggled to get more traffic rights to fly into Australia. Australia is a very important market for us.“We were limited to 21 flights on a weekly basis. So, we have decided to go into this sort of partnership with Virgin Australia and have a wet lease agreement with them to increase...to add 28 more flights on a weekly basis. At the end of the day, this is a win-win situation for all of us...Qatar Airways, Virgin Australia, and most importantly, the Australian consumers.“We want to create competition, which will drop the prices...give Australian consumers more options to choose from. And at the end of the day, passengers will choose what is best for them.”He said Qatar Airways partnership with Virgin Australia, Malaysian Airlines and JAL will help the national carrier “balance between the East and the West”.“There is a very high demand in the Far East, but we are restricted by bilaterals...by a certain number of flights. On the other hand, we have Open Sky agreements in Europe and in the US.”

Qatar plans to significantly boost its liquefied natural gas trading business to complement its expanding domestic production of LNG, according to HE the Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi.QatarEnergy set up a trading unit a few years ago, which is already handling 10mn tonnes of physical LNG annually, more than 50% of which is non-Qatari volumes, al-Kaabi said at the Qatar Economic Forum Tuesday.“The ambition is to reach somewhere in the range (of) 30mn-40mn tonnes of non-Qatari LNG traded by our trading group by 2030,” al-Kaabi, who is also the President and CEO of QatarEnergy, noted.Al-Kaabi recognised the tremendous growth of QatarEnergy Trading and its future growth.He said: “Trading was something we started just a few years back. We are now trading around 10mn tonnes of LNG in physical trading. We will be producing 160mn tonnes of LNG, if you include the US. And we have 70 LNG ships in our fleet today and we will be adding 128 ships in a few years. So, all that will help our trading to thrive.”The expansion plan includes LNG exports from the North Field East project, by the middle of 2026, he said.In the US, QatarEnergy has a majority stake in the Golden Pass project, which is nearing the start of operations.Al-Kaabi said there is room for growing supply from the US, the world’s top-LNG producer, as well as Qatar. US volumes typically go to Europe and South America and Qatari LNG will predominately serve Asia.The minister affirmed that he was not worried about a glut in the market.“Qatar is bullish on global demand for the fuel. The need for the fuel and electricity is rising globally with population growth and the expansion of artificial intelligence.“You're going to have 1.5-2bn people on this earth in the next 20 to 30 years. And you have 1bn people around the world that don't have basic electricity. So the need for electricity and power is huge,” al-Kaabi said. “We need all that volume. The need for electricity and power is huge. So we are not worried at all about having a supply glut or anything like that.”He said QatarEnergy is discussing sales of additional volumes with buyers in China and India, as well as counterparts in other countries, he said. Still, the talks can be long-drawn.“You always have sticking points with all negotiations. Everybody wants a better price deal from both sides,” he said.