Qatar to begin LNG exports from North Field East by mid-2026, says minister
Qatar plans to start exporting liquefied natural gas (LNG) from its first domestic expansion project by the middle of next year.
The indication comes amidst the market closely watching the timeframe for the beginning of the operations.
QatarEnergy will start supplies from North Field East by mid-2026, Energy Minister Saad Sherida Al-Kaabi told Bloomberg News at the Qatar Economic Forum in Doha on Tuesday.
The startup of the project – which will boost Qatar's annual LNG output capacity to 110 million tons from 77 million tons now – is in focus amid elevated demand and delays at a number of projects globally.
The market is closely watching the exact timing of new LNG projects, especially as Europe is still adjusting to life without Russian pipeline gas and consumption in some Asian countries is rising.
Pinpointing the exact quarter or month of a startup like North Field East can impact how much supply will be available for the peak winter season, or for stockpiling and cooling needs in the summer.
State-owned QatarEnergy's website states that the project will start by 2026.
The company in 2022 said operations should start early next year, and in June last year, there were expectations for a 2026 start, without a specific date.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
Beyond oil and data: Why water will dictate political and economic landscapes of the next century
Water is fast becoming the defining commodity of the 21st century. Not oil, not data, but water. As we look ahead, this basic element that is essential for life, agriculture, and industry is on course to surpass more commonly regarded natural resources in its globally strategic importance and economic value. Demand for water is rising at an unprecedented pace. From rising urban populations to the water-intensive requirements of AI data centres, semiconductor manufacturing, and green hydrogen production, the pressure on global freshwater supplies is accelerating. What was once considered a freely accessible resource is increasingly subject to scarcity, speculation, and geopolitical risk. The UAE's growing global role At the same time, the UAE is fast becoming a global leader on water solutions through major investments in rainwater harvesting, innovative reuse of water and advanced desalination. A key example is Taweelah in Abu Dhabi — the world's largest reverse-osmosis desalination plant, which can add 900,000 cubic metres of water per day to meet the needs of one million people. The UAE has also stepped up as a water solutions leader beyond its borders, pioneering energy-for-water deals with trade partners such as China, Jordan and Israel. As a quid-pro-quo arrangement where energy assets or support are exchanged for water assets and or services, this form of trade often compliments carbon-rich nations with an opportunity to shore up their water security, while providing energy to water-rich countries in return. On the international stage, the UAE already made significant inroads into recognising water's vital status. At COP28, it led a landmark agreement that explicitly recognised the critical role of water in climate adaptation. Backed by $150 million endowment via the Mohamed Bin Zayed Water Initiative, the UAE is also championing breakthrough technologies, while preparing to host the pivotal 2026 UN Water Conference. As we escalate our efforts to mitigate the effects of water scarcity upon our security, the time has come for all countries to reimagine water in the same light as other commodities - a highly strategic asset, integral to driving global sustainability and climate solutions. A transparent, neutral, and legally sound water market Nearly half the global population experienced water scarcity last year, a phenomenon that increasingly mirrors patterns of geopolitical tension. We see this vividly in the Nile Basin, where competing claims between Egypt, Ethiopia, and Sudan have escalated into diplomatic standoffs. Similar strains are present along the Colorado River in North America and in the Mekong Delta of Southeast Asia, and just recently between Pakistan and India. As with energy, water is becoming politicised, but unlike oil or gas, we don't yet have mature markets to manage and mitigate these tensions. The absence of common trading frameworks, transparent pricing mechanisms, or enforceable governance structures leaves water vulnerable to fragmentation and conflict. While oil fields around the world are heavily guarded, the world's most vital resource is left exposed, undervalued, and unprotected. Without a clear price signal, water is treated as an unlimited resource, leading to waste, mismanagement, and inequitable access, discouraging innovation in conservation while failing to attract private sector financing. This is where global trade and logistics have a critical role to play – not by commodifying water for the sake of profit, but in bringing structure, neutrality, and transparency to its allocation. By recognising that water is an asset class with a tangible economic value, we can turn it into collateral for financial instruments to unlock much-needed capital for sustainable water infrastructure, storage, conservation and innovation. However, financial infrastructure is only one part of the solution. Physical infrastructure, particularly logistics, is equally essential. The ability to transport water in bulk, efficiently and cost-effectively, will determine the success of the global water trade and while much of the world's freshwater is geographically concentrated, the real challenge lies in getting it to areas facing acute scarcity. Innovative logistics solutions, including large-scale maritime transport, are now making this possible, however, what is really needed are strong, on-the-ground partnerships to receive, store, and distribute water reliably. Without this logistical backbone, even the most advanced water trading models will fall short. As a solution, technological breakthroughs that enable distributed water production via atmospheric humidity such as Hawana Water, a DMCC company, have promised to make an outsized contribution with impressive rates of efficiency and volume. Aside from accessibility, technology will also play a key role in adapting water for various purposes. For example, companies such as Enagic and its Kangen Water systems create hydrogen rich, alkalized water, which is produced using its patented ionizing technologies to optimise health via its antioxidant properties. Dubai – the future capital of the global water trade The same principles that apply to gold, diamonds and oil must now be applied to water. It is for these reasons that we are building the DMCC Water Centre, a dedicated ecosystem for water-focused companies that will spearhead innovation, technologies, sustainable best practices, knowledge sharing, and education. The Water Centre will eventually serve as the main regional hub for pioneers in the field of water management, from WaterTech innovators to logistics providers. To that end, we are proud to have signed a landmark deal with Fresh Water Norway, bringing one billion litres of natural drinking water to Dubai annually for the next 50 years, and a partnership in the works with Aqua Index, whose founder, Yaacov Shirazi, stands as an early pioneer of water tokenisation, and a leading advocate for global transparency. As a commodities centre, our role is to offer a neutral ground for trade, with Dubai providing a de-risked and regulated environment where international actors can collaborate, innovate, and produce with confidence – a crucial requirement as legal tensions over water inevitably escalate. The world cannot afford for water to become a source of division, but instead a basis for cooperation. In this capacity, DMCC Water Centre has the potential to serve as an agnostic facilitator for development, trade and progress, while striving to solve one of the world's most pressing humanitarian challenges - making clean water a right, and not a privilege.
The National
6 hours ago
- The National
Emiratis soak up Lebanon's food scene and culture after lifting of travel ban
After a four-year halt, the UAE travel ban to Lebanon was lifted in May, much to the joy of citizens from both sides. Emirati visitors have been quick to fly over, despite the recent unrest, as Lebanon prepares itself for what is hopes will be a busy summer season. Restaurants and bars have been booming in Beirut, with new creative venues opening almost weekly. New hotels are opening and Lebanon's famed summer festivals have announced exciting programmes of live music and performances from local and international artists. The cultural scene includes art exhibitions and a few new galleries. For Barjeel Art founder Sultan Sooud Al Qassemi, this was what drew him to make a long-overdue visit soon after the ban was lifted. 'It had been 14 years since I had been to Lebanon and in that time many cultural institutions opened,' Al Qassimi tells The National. 'I was keen to visit them. Beirut, despite all the conflict, remains a major cultural hub in the region. I visited the Sursock Museum, the National Museum of Beirut, AUB galleries and the Dalloul Art Foundation alongside a tour of Basel Dalloul's own private collection at his residence. 'I was waiting for the right moment and made sure I went in the first few days after the travel ban was lifted. I plan to visit more often because of all of the cultural institutions, collectors' homes, archives and galleries that I didn't get to see during my short visit.' In the past, Emiratis enjoyed spending summers in Lebanon for all the above reasons, combined with more temperate weather than at home and a short flight. Now that the travel ban has been lifted, they're eager to visit again. Lebanon's Ministry of Tourism is anticipating a strong summer, thanks to returning expats and regional tourists. A lot of effort has been put into strengthening the tourism sector. Amenities and facilities have been added to Beirut's airport; campaigns encouraging tourists to visit other cities and rural locations have been running; and guides and other institutions have been undergoing training. We are working to extend tourism throughout the year and in all regions Laura Lahoud, Lebanon's Minister of Tourism 'We deeply appreciate the UAE's initiative and look forward to welcoming back all Gulf visitors who consider Lebanon their second home and are vital to its tourism sector, with many having strong ties and properties here,' Lebanon's Minister of Tourism Laura Lahoud tells The National. 'The government aims to solidify this renewed trust and pave the way for a thriving tourism industry. 'It is important that visitors have the best experience from the moment they arrive until the moment they leave. We are also working to extend tourism throughout the year and in all regions, from the north to the south and the Beqaa Valley. 'We want visitors to benefit from everything Lebanon offers – from the sea and the mountains to the beautiful nature – so that they always return.' The Phoenicia, one of the capital's oldest and grandest hotels, reopened in late 2022 after repairs from the 2020 Beirut Port blast. It has slowly been revamping its facilities, including the spa and restaurants. Amethyst, the hotel's poolside lounge, will reopen this month. 'We have observed a modest uptick in inquiries and bookings from the UAE market, particularly among leisure and corporate travellers,' says general manager Mathieu Greppo. 'Looking ahead, we are optimistic about the summer season. Continued stability and positive developments in regional relations would further bolster this outlook.' This month The View Hotel opened as an annex to the iconic historic shell of the former St George Hotel on the marina. A number of other restaurants, bars and coffee shops have opened, from high-end sophisticated experiences such as Mimi in Achrafieh to low-key burger joints like Slot in Gemmayzeh. Mimi owners Yasmina and Elissa Yared feel now is a good time to open their restaurant because people are steadily reinvesting in the country. Their Mediterranean-menu and lively atmosphere is already drawing in excited patrons. 'We always see that there is potential to invest here, as people love to go out and they're very positive despite all the problems,' Yasmina tells The National. 'The lifting of the ban is great news for the food and beverage sector. 'For the past five years, after the explosion and the economic problems, more than 70 per cent of institutions had to close and now people are reinvesting and opening. 'When we have more people coming from abroad it will maybe make it easier than before. The projection is positive, so we're hopeful.'
Khaleej Times
7 hours ago
- Khaleej Times
UAE drives global crypto revolution with adoption and innovation
The UAE has reinforced its position as the world's foremost crypto hub in 2025, leading a global surge in digital asset adoption driven by progressive regulations, strategic partnerships, and a tech-savvy population. A recent study by Atmos ranks the UAE as the most crypto-obsessed nation, scoring 98.4 out of 100, with a 25.3% cryptocurrency ownership rate and a phenomenal 210% adoption growth. This meteoric rise, coupled with Bitcoin's blistering rally past $110,000 and a $2.2 trillion market cap, underscores the UAE's pivotal role in reshaping global finance. As the country leverages regulatory clarity, institutional investments, and cutting-edge fintech innovations, it is not only riding the crypto wave but defining its future trajectory. The Atmos study evaluates crypto engagement through four key metrics — ownership rates, adoption growth, per capita search activity, and Bitcoin ATM availability. The UAE's dominance is remarkable despite having just one Bitcoin ATM, compared to the United States' 29,834 or Canada's 3,561. With 186,000 monthly crypto-related searches and a 210% adoption surge, the UAE outpaces Singapore (97.5 score, 24.4% ownership) and the US (85.4 score, 15.5% ownership). This reflects a cultural and economic embrace of digital assets, fuelled by a young, affluent demographic — over 60% of the UAE's 9.8 million residents are under 30 — and a government committed to a blockchain-powered economy. 'Crypto adoption is reshaping financial systems worldwide,' said Nick Cooke, CEO of Atmos, emphasising the UAE's leadership in integrating crypto into daily life. Bitcoin's recent ascent to $108,955.10, with peaks at $109,857, has ignited global optimism, with analysts like Nigel Green of deVere Group revising price targets from $150,000 to $175,000 by August 2025. Green attributes this rally to macro tailwinds, including a cooler US inflation report, easing US-China trade tensions, and a Moody's downgrade of US sovereign debt, which has driven investors toward Bitcoin as a hedge against fiat instability. 'Bitcoin is no longer just a speculative play but a strategic hedge,' Green notes, highlighting its appeal as 'digital gold' amid eroding sovereign credibility. The UAE's high ownership rate aligns with this trend, as investors seek assets immune to dilution or adoption is a cornerstone of the UAE's crypto ecosystem. Ripple's licensing by the Dubai Financial Services Authority (DFSA) to operate within the Dubai International Financial Centre (DIFC) marks a regional first, enabling regulated crypto payment services. Brad Garlinghouse, Ripple's CEO, praises the UAE's regulatory clarity, noting its $400 billion international trade market and 64% of Middle East and Africa finance leaders prioritising faster payments via blockchain. Ripple's RLUSD stablecoin, launched in 2023 with a $130 million market cap, exemplifies the demand for real-time settlement solutions. Similarly, partnership with UAE-based Tawasal integrates crypto services into a superapp, enhancing accessibility. Abu Dhabi's MGX investing $2 billion in Binance further cements the UAE's role as a crypto investment hub, with Emirates NBD's Liv platform introducing crypto services to bridge traditional and decentralised finance. The UAE's regulatory framework, led by Dubai's Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM), balances innovation with oversight. VARA's licensing has attracted global players, while ADGM's regulations support blockchain development. 'The UAE's regulatory sandboxes allow fintechs to test AI-driven solutions safely,' says Nadeem Ladki of Bitpanda Technology Solutions. This contrasts with restrictive regimes like China's, positioning the UAE ahead of Singapore and Switzerland, despite their progressive policies. The UAE's $30 billion in crypto investments in 2024, coupled with a 41% increase in crypto app downloads, underscores its business-friendly environment, with free zones like DIFC and ADGM offering tax incentives and low startup costs. Decentralised finance (DeFi) is transforming the UAE's financial landscape, with global DeFi protocols holding over $150 billion in 2024. Platforms like MakerDAO and Compound enable intermediary-free financial services, aligning with the UAE's goal of financial inclusion for the 1.7 billion unbanked globally, per World Bank data. The UAE's mobile-centric DeFi solutions, supported by its advanced tech infrastructure, are poised to lead this shift. The upcoming Digital Dirham, a blockchain-based central bank digital currency (CBDC) set for fourth quarter of 2025, will enhance cross-border payments and combat financial crime, according to Khaled Mohamed Balama, Governor of the Central Bank of the UAE. With 10% of global GDP expected to be tokenised by 2027, the Digital Dirham positions the UAE at the forefront of this transformation. Artificial intelligence (AI) is amplifying the UAE's crypto prowess, with initiatives like DIFC's AI and Web3 incubator fostering innovation. AI enhances fraud detection and compliance, critical for navigating VARA's regulations. Globally, Layer 2 solutions like Optimism and Arbitrum improve blockchain scalability, making crypto viable for daily transactions. The UAE's fintech market, projected to reach $3.56 billion in 2025 and $6.43 billion by 2030, benefits from a 12.56% CAGR, driven by AI and blockchain synergy. Non-fungible tokens (NFTs) and metaverse platforms like OpenSea and Decentraland are also gaining traction, with the UAE's tech-savvy market capitalising on these new digital economies. Bitcoin's global rally, up 8.6% weekly, is mirrored by other cryptocurrencies like Ethereum (37.2%), XRP (19.2%), and Solana (18.6%), per Nick Forster. Ethereum's Pectra upgrade and Coinbase's S&P 500 inclusion signal mainstream adoption, boosting market confidence. In the UAE, 39.1% of residents are projected to use crypto by year-end, driven by user-friendly platforms and regulatory trust. The Bitcoin 2025 conference in Las Vegas, featuring speakers like US Vice-President JD Vance and MicroStrategy's Michael Saylor, will likely amplify global enthusiasm, with potential US policies like a Strategic Bitcoin Reserve further fueling growth. Despite its leadership, the UAE faces challenges. Cybersecurity risks in crypto transactions require ongoing investment, and balancing regulation with innovation remains critical. Globally, regulatory disparities — China's crackdowns versus the EU's MiCA framework — highlight the UAE's advantage in proactive governance. George Naddaf of eToro Mena notes, 'Fintech is redefining how investors make decisions,' with the UAE's education and accessibility initiatives sustaining momentum. Arif Amiri of DIFC emphasises the country's ecosystem, including an independent regulator and efficient judicial system, as a springboard for fintech growth. The UAE's crypto revolution is a blueprint for global economies. Its 210% adoption growth, 25.3% ownership rate, and $30 billion in 2024 investments reflect a nation not just adapting to digital finance but shaping it. As Nick Cooke of Atmos states, 'In the UAE, crypto drives a fully digitised economy.' With Bitcoin's resilience, institutional backing, and innovations like DeFi, CBDCs, and Web3, the UAE is poised to dominate the next phase of the crypto evolution, setting a global standard for a decentralized, inclusive financial future.
