Doha, Qatar: Qatar remains committed to expanding its liquefied natural gas (LNG) production capacity despite damage sustained by LNG facilities, while the country’s non-hydrocarbon economy continues to demonstrate resilience amid regional challenges, Qatar Central Bank Governor and Qatar Investment Authority Chairman H E Sheikh Bandar bin Mohammed bin Saoud Al Thani said.
Speaking to Bloomberg TV during an interview on the sidelines of the Special Edition of the Qatar Economic Forum 2026, Powered by Bloomberg, held in New York alongside the United Nations General Assembly, Sheikh Bandar said "Despite the damage sustained by the LNG facilities, we remain committed to advancing our expansion plans and are proceeding with a new expansion project that will double our production capacity to 145 million tons per year by 2030."
The continued expansion reflects Qatar’s long-term commitment to its energy sector despite recent challenges affecting LNG infrastructure. The country is maintaining its plans to increase production capacity while also strengthening the foundations of its broader economy."
Sheikh Bandar highlighted the performance of Qatar’s non-hydrocarbon sector, which grew by 3.5% despite regional challenges. He also pointed to a significant improvement in the country’s public finances, with Qatar reducing its debt-to-GDP ratio from 60% to 40% while maintaining a sovereign credit rating of AA.
The non-hydrocarbon sector has also become an increasingly important component of Qatar’s economy. Its contribution to gross domestic product has risen from about 40% in 2011 to approximately 70% in recent years, he said.
Qatar’s external financial position also provides a significant buffer, with substantial reserves held by Qatar Central Bank and one of the world’s largest sovereign wealth funds through the Qatar Investment Authority (QIA). These financial strengths, Sheikh Bandar said, enhance the country’s ability to navigate periods of uncertainty while positioning it to capitalize on growth opportunities as regional conditions improve.
The Qatar Investment Authority (QIA) is pursuing a long-term investment strategy aimed at creating sustainable value for future generations, with an increasing focus on technology, artificial intelligence, and innovation, particularly in the United States, while continuing to invest across a range of sectors in support of its broader diversification strategy.
The focus on technology extends to Qatar’s financial sector. Qatar Central Bank is currently implementing 18 artificial intelligence projects, four of which have been completed.
The projects have already contributed to reducing costs and accelerating workflows, highlighting the potential for artificial intelligence to improve operational efficiency within the central bank.
Sheikh Bandar said Qatar Central Bank remains committed to continued investment in artificial intelligence and to leveraging the technology to further develop and enhance its operations.
