Before the war, QIA said it planned to invest $500 billion in the US alone over the next decade. The fund had expected to nearly double in size, boosted by an 85% expansion of its liquefied natural gas (LNG) output by 2030. That gas expansion has now been delayed — an Iranian attack on the Ras Laffan complex knocked out about 17% of its existing capacity. Qatar’s economy is expected to contract 15.6% this year, and the government will likely post a deficit.
QIA, with around $580 billion in assets, is a significant backer of Wall Street firms and US technology. Its appetite mirrors that of its Gulf peers: with the exception of Saudi Arabia’s Public Investment Fund, all are on track for one of their most active years of dealmaking ever, according to fund tracker GlobalSWF.
Qatar has been one of the most impacted Gulf countries by the US-Iran war. Unlike some of its neighbors, it has no export routes that bypass the Strait of Hormuz, and has been reluctant to move LNG tankers — which are more flammable and expensive than crude carriers — through the strait.
Despite the disruptions, there are signs of recovery. QatarEnergy Chief Executive Saad al-Kaabi said last month that the expansion project is expected to begin production in the first half of 2027. Meanwhile, an LNG export facility in Texas, majority owned by QatarEnergy in a joint venture with ExxonMobil, shipped its first cargoes in April.