AGP Executive Report

Investment: QIA’s $3bn Fund of Funds has added US growth investor Activate Capital, which plans to open its first international office in Doha and invest in energy technology, smart infrastructure and digital industry. Energy & Trade: Hormuz disruptions continue to threaten Qatar’s gas exports; reports say state revenue fell 42% in the first half of 2026, while Qatar has pledged to continue its energy expansion. Industrial Activity: Qatar’s contract awards rose 76.1% to $5.2bn in Q3, and QDB has expanded grants for local manufacturers. Company Results: WOQOD posted QR852m in nine-month net profit, up 13% year on year, though sales volumes fell 14%, mainly due to lower aviation-fuel sales. Finance: Qatar’s banking assets held at QR2.194tn in August, up 2.3% from year-end 2025.

Energy & Public Finances: Qatar’s revenues fell 42% in the first half of 2026 as regional conflict disrupted gas exports, the Amir said, while pledging to protect development priorities and continue QatarEnergy’s expansion. Industry & Projects: QDB is widening non-repayable grants for Qatar-based manufacturers; Aamal’s Advanced Pipes and Casts signed a cooperation agreement with China Railway Tunnel Group on tunnel projects and supply chains. Qatar’s contract awards rose 76.1% to $5.2bn in the third quarter. Business Performance: QIB reported nine-month profit of QR3.53bn, up 2%, while Doha Bank earned QR681mn. Woqod profit climbed 13% to QR852mn, despite lower sales volumes. Digital & Green Growth: Google Cloud has joined the Qatar Internet Exchange, expected to improve local service access and network performance. Qatar is also accelerating solar development and promoting e-waste recycling to recover materials for industry.

Energy Resilience: Qatar’s government revenues fell 42% in the first half of 2026 as the Strait of Hormuz closure and damage to Ras Laffan disrupted gas exports. The Amir said North Field expansion remains on schedule, targeting capacity of 142 million tonnes of LNG a year by 2030. Regional Cooperation: Qatar and Saudi Arabia signed an energy cooperation pact covering oil, gas, petrochemicals, electricity, renewables and possible pipeline projects. Project Pipeline: Contract awards rose 76.1% quarter-on-quarter to $5.2bn in Q3, but were down 62.6% year-on-year; oil projects accounted for about $5bn, while four tracked sectors recorded no awards. Markets: Qatar’s stock index fell 1.41% at Wednesday’s open, with industrial shares down 1.72%.

Energy and Exports: Qatar’s government revenue fell 42% in the first half of 2026 as damage at Ras Laffan and Strait of Hormuz disruption curtailed exports. The Amir said North Field expansion remains on schedule, while non-hydrocarbon sectors account for about 80% of real GDP. Shipping Risks: Iran says it has stepped up attacks on vessels, adding pressure to a vital route for Qatar’s LNG and global energy trade. Regional Cooperation: Qatar and Saudi Arabia signed an energy cooperation agreement covering gas, oil, renewables, electricity and potential pipeline projects. Diversification: Qatar is advancing utility-scale solar and local food production, with agribusiness investments helping strengthen hospitality supply chains. Ashghal also announced new road and infrastructure projects worth QR418 million.

Energy and Economy: Qatar’s Amir told the Shura Council that first-half government revenue fell 42% as Hormuz disruptions and damage at Ras Laffan curtailed exports. Qatar supplies about one-fifth of global LNG trade, while non-hydrocarbon sectors account for around 80% of real GDP. North Field expansion remains on schedule, with QatarEnergy also advancing Golden Pass and international partnerships. Power Transition: Solar is set to lift renewables’ share of Qatar’s power capacity from 12% in 2025 to 25.9% by 2035, GlobalData forecasts, though gas will remain essential for power and desalination. Infrastructure: Ashghal announced QR418mn in road and infrastructure works in Izghawa and Al Thumaid. Water Innovation: HBKU’s PlasmaPure team reached the semifinals of the XPRIZE Water Scarcity in two desalination tracks, the only Gulf team to do so. Tourism and Services: Hospitality Qatar opened with 120 exhibitors, showcasing local and international businesses.

Infrastructure: Ashghal has begun a QR418mn roads and utilities project in Izghawa and Al Thumaid, serving 771 plots with new roads, drainage, lighting and public facilities. Hospitality: Hospitality Qatar 2026 opened at DECC with 120 exhibitors, connecting local and international suppliers with hotels, restaurants and other businesses. Energy: QatarEnergy is showcasing its LNG expansion, shipping fleet and downstream projects at the World Petroleum Congress in Riyadh, as regional shipping attacks heighten risks to Gulf trade. Research and water: HBKU’s PlasmaPure team reached the semifinals in two desalination tracks of the XPRIZE Water Scarcity competition, while imec Qatar is preparing to build research and talent partnerships at QSTP. Power transition: Qatar’s solar expansion could lift renewables to 25.9% of power capacity by 2035, while gas remains central to system reliability. Digital services: QNB won seven Global Finance awards for digital banking, and beIN became the first global organisation in Qatar to receive the National Information Assurance Certification.

LNG and Energy Security: Qatar’s LNG exports remain severely disrupted, tightening global gas supply. Attacks have damaged about 17% of export capacity, with repairs expected to take years. At the Riyadh energy congress, QatarEnergy chief Saad Al Kaabi urged leaders to keep energy above politics and protect supply infrastructure. Industrial Investment: Swedish firm Statetron has secured land at Umm Al Houl Free Zone for a phased battery manufacturing campus, with plans for automated production, logistics, testing and research facilities. Regional Cooperation: Qatar joined the World Energy Congress as Saudi Arabia signed energy cooperation agreements with Qatar, Kuwait and Egypt, highlighting the push for stronger regional ties amid supply disruptions. Creative Industries: Doha Film Festival will premiere four Qatari features and an original series in November, marking its largest slate of local productions in a year.

Energy Cooperation: Qatar and Saudi Arabia signed an MoU covering oil and gas, petrochemicals, hydrogen, renewables, power and carbon capture. At a regional energy forum, Qatar’s Saad al-Kaabi urged keeping energy above politics, warning that conflict is disrupting about 20% of global hydrocarbon flows. Smart Manufacturing: Qatar Development Bank’s Manarat hub plans 16 connected industrial units, using AI and sensors to support predictive maintenance, manage inventory and link factory operations. Upstream Expansion: QatarEnergy won seven offshore exploration blocks in Brazil with partners, extending its international portfolio. Industrial Resilience: Qatar Chamber says SMEs are taking larger roles in industrial, infrastructure and energy supply chains, supporting local content and resilience.

Digital Skills: Community College of Qatar will launch associate degrees in artificial intelligence and digital media in January 2027, with places for 108 students. The AI course will be Qatar’s first associate degree in the field. Business Access: The Ministry of Commerce and Industry’s Qatar Business Map gives investors market, demographic and location data to help assess opportunities across the country. Industrial Resilience: Experts say stronger domestic manufacturing can help Qatar withstand shipping disruptions, with local capacity in areas such as food, pharmaceuticals and building materials seen as a strategic safeguard. Energy and Industry: QatarEnergy has secured seven offshore exploration blocks in Brazil and plans to supply Bangladesh with an LNG cargo. Qatar is also set to host a Honeywell Sundyne pump service hub, while 61 new recycling units are expanding the country’s recycling network. Finance: QNB Group’s nine-month net profit rose 4% to QR13.3bn.

Banking: QNB Group reported a 4% rise in nine-month net profit to QR13.3bn, while operating income climbed 8% to QR36bn. Industrial Services: Qatar Free Zones Authority and Honeywell plan a local hub to machine and service Sundyne pumps, supporting energy and process industries across the region. Manufacturing and Logistics: Swedish firm Statetron has secured land at Umm Al Houl for a planned battery facility, while GWC is expanding in the UAE and maintaining alternative trade routes linking Qatar with GCC markets. Energy: QatarEnergy’s LNG expansion is moving toward operations, with the mega-train targeted to start within weeks and early production planned for 2027; the company also secured a Brazil energy concession and a contract to supply Bangladesh. Supply Resilience: Disruptions to shipping routes are strengthening the case for local manufacturing and reliable regional logistics, especially for essential goods and industrial services.

Recycling and Manufacturing: Qatar’s recycling industry is set to expand, with 61 facilities planned or under development, including projects for e-waste, plastics, metals and construction waste. LNG and Energy: QatarEnergy is preparing a major LNG expansion, with a mega-train targeted to start production in early 2027, and has agreed to supply one cargo to Bangladesh. Shell has also partially restarted production at Pearl GTL, while QatarEnergy secured an energy concession in Brazil. Shipping Risks: Tanker attacks near Qatar and wider Gulf threats are raising risks for energy shipments. Qatar is bringing empty LNG vessels into the Gulf as it prepares to move cargoes.

Recycling: Qatar’s recycling sector is set for a major expansion, with 61 facilities operating, under construction or in development across e-waste, plastics, metals and construction waste. Energy Supply: QatarEnergy will supply Bangladesh with an LNG cargo at about $13 per million British thermal units, while extending force majeure on other deliveries until at least mid-November. LNG and Exploration: Shell has partially restarted Pearl GTL for testing, around six months after damage to one of its trains. QatarEnergy also secured 30% stakes in seven offshore exploration blocks in Brazil. Shipping Risks: Tanker attacks off Qatar and the UAE, alongside IRGC threats against vessels using unauthorised routes, are raising risks for Gulf shipping and energy exports.

LNG Expansion: QatarEnergy’s first North Field East production train could be ready to start in November, with LNG output expected in early 2027. The project will raise export capacity from 77 million to 110 million tonnes a year. Shell has also partially restarted its Pearl facility after earlier attacks. Shipping Risks: A tanker was struck off Qatar’s coast, underscoring the threat to Gulf routes. Qatar is bringing empty LNG carriers into the Gulf as shipping disruptions continue. Offshore Projects: Chinese contractor COOEC has won a major package for QatarEnergy’s Maydan Mahzam oil-field redevelopment. QatarEnergy also secured seven offshore exploration blocks in Brazil. Food Production: Qatar is consulting fishermen on practical support for the sector, aiming to boost local production and strengthen food security.

Gulf Shipping: A tanker was hit by multiple projectiles north of Qatar, with crew casualties reported. Hormuz traffic has fallen to a two-month low as oil prices climb above $100 a barrel. LNG Readiness: Qatar has positioned at least 12 empty LNG carriers near its coast, with capacity of about 1.1 million tonnes, ahead of possible loading and transit through the strait. Gas Operations: Shell has partially restarted its Pearl facility after attacks; full repairs to a train are expected by early 2027. International Energy: QatarEnergy won seven offshore exploration blocks in Brazil, including acreage with Petrobras and TotalEnergies. Infrastructure: Ashghal has re-awarded delayed projects to new contractors.

Energy Security: A tanker was struck by multiple projectiles off Qatar, with casualties reported, as Strait of Hormuz traffic fell to a two-month low and Brent crude topped $105 a barrel. The attacks are raising risks and costs for Gulf shipping. QatarEnergy Expansion: QatarEnergy won seven offshore exploration blocks in Brazil, while operations at its LNG expansion project are due to begin in November. Economic Outlook: The World Bank forecasts Qatar’s economy will contract 20.9% in 2026 amid Hormuz-related disruption. Qatar’s gas production fell about 67% year-on-year between March and July, while food inflation topped 12% in June. Industry and Infrastructure: Ashghal has re-awarded delayed infrastructure projects. The Qatar Society of Engineers will hold a November conference on 3D printing and smart manufacturing, with sessions on construction, energy and heavy industry.

Maritime Security: A tanker was hit by projectiles about 90km north of Qatar, with casualties reported, raising fresh concerns for Gulf shipping. Energy: QatarEnergy’s first North Field East expansion train is expected to be ready in November, with LNG production targeted for early 2027. Qatar and Pakistan have also agreed to review long-term LNG contracts amid surplus supply and cargo diversions. Infrastructure: Ashghal has re-awarded its remaining eight delayed projects to new contractors, following the restart of 13 projects since April 2025. Trade and Investment: Qatar and Iraqi chambers established a joint business council and reviewed around 60 investment opportunities tied to Iraq’s estimated $250bn Development Road project, spanning logistics, manufacturing, energy and other sectors. Manufacturing: The Qatar Society of Engineers will hold a 3D printing and smart manufacturing conference on Nov. 8, with sessions on construction, recycled materials and oil and gas industries.