Qatar’s quarterly export revenues for Q2 sank to their lowest level since 3Q 2021 as oil and gas prices softened. Total exports of $23.43bn were down more than $10bn year-on-year, while the year-to-date figure of $49.8bn is down 21.1% year-on-year from $63.1bn.

The key driver of Qatar’s economy is its 77mn t/y capacity LNG export sector. With the bulk of its LNG exports sold under long-term oil-linked contracts (MEES, 28 July) which lag oil prices, revenues are set to remain relatively muted for the remainder of the year. (CONTINUED - 257 WORDS)