Qatar Revenue Falls 42% in Six Months As Middle East War Deepens Economic Crisis

Qatar’s economy has come under mounting pressure as the ongoing Middle East conflict disrupts energy infrastructure and export routes.

Emir Sheikh Tamim bin Hamad Al Thani said on Tuesday that the country’s total revenue fell 42% in the first half of 2026, highlighting the financial impact of the conflict on one of the world’s leading liquefied natural gas (LNG) exporters.

Addressing the annual session of the Shura Council in Doha, Sheikh Tamim said the closure of the Strait of Hormuz and damage to energy facilities at Ras Laffan Industrial City had affected a significant share of the country’s exports. He acknowledged that these disruptions had adversely affected government finances.

Iranian attacks reportedly caused extensive damage to Qatar’s Ras Laffan gas hub, while the blockade of the Strait of Hormuz disrupted LNG shipments. The strategic waterway serves as a crucial export route for Qatari gas, making uninterrupted access essential for supplying international markets.

As one of the world’s largest LNG exporters, Qatar faces challenges extending beyond falling government revenue. Disruptions to production and shipments could also affect global energy supplies and increase uncertainty in international gas markets.

Despite these difficulties, Qatar plans to continue expanding its gas production capacity. Sheikh Tamim said work on the North Field expansion project remained on schedule. Qatar aims to increase its annual gas production capacity to 142 million tonnes by 2030, strengthening its position in the global LNG market.

Qatar’s Golden Pass LNG project with ExxonMobil is progressing. However, the IMF forecasts a 15.6% GDP contraction in 2026.

Qatar faces mounting pressure to protect energy infrastructure, restore exports and address falling revenue amid economic uncertainty.

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