Qatar can benefit greatly from the war in Ukraine. Due to the fact that Europe wants to give up Russian gas in five years, Qatar will easily be able to increase its exports by 30% this year, writes Bloomberg.
According to the publication, in 2022, Qatar’s gas exports will exceed last year’s figure by a third and reach 114 billion dollars.
High demand from Europe removes any doubts about Qatar’s plans to increase LNG exports by 60% by 2027. The project requires about $ 30 billion, which Qatar will now almost certainly receive.
The new gas supercycle begins with the end of long preparations for the World Cup, which has supported Qatar’s economy in recent years.
Economist Ziad Daoud says Qatar, which could be the new engine of the decade’s growth, is a good time.
“This is an incredible opportunity. Qatar will be one of the most important exporters of gas, the demand for which is likely to be very high in the coming years,” said Karen Young, a senior fellow at the Institute for Middle East Studies.