Qatar’s export revenues jumped to $12.18bn in July, driven largely by its gas sector, enabling a mammoth $9.5bn trade surplus. Europe’s energy crisis has pushed up gas prices across the globe, while Qatar’s oil-indexed LNG exports are now reaping the lagged benefits of the post-February spike in oil prices.
The key gains were from Qatar’s critical gas sector. Revenues from “Petroleum Gases and Gaseous Hydrocarbons” rose nearly $2bn to $8.39bn in July, whereas oil revenues dropped some $500mn to $2.45bn as oil prices eased off of recent highs. (CONTINUED - 673 WORDS)