Qatar Posts Widest Deficit in Nearly a Decade as Hormuz Ties Up Gas Trade

Qatar recorded its widest quarterly budget deficit in almost a decade as Hormuz disruption tied up gas trade, Bloomberg reported (Carla Canivete; September 8, 2026 at 7:39 AM PDT). The budget shortfall reached 21.2 billion riyals ($5.8 billion) in the second quarter — the highest since the end of 2016 and almost double the previous three-month period, when the deficit stood at 10.3 billion riyals. Hormuz is not reopened.

LNG collapse; revenue vs spending

Natural gas revenue all but evaporated amid the conflict between the US and Iran and Hormuz traffic disruption. Energy revenue plunged after the war erupted in late February. LNG exports plummeted from around 20 million tons a quarter last year to less than 2 million between April and June of 2026. Qatar has no alternative shipping routes to bypass the strait, leaving its vessels unable to reach international LNG buyers, most of them in Asia.

Non-energy revenue increased almost five-fold to 25 billion riyals. Overall revenue dropped about 30% to 25.6 billion riyals and expenditure decreased 2.6% to 46.9 billion.

Related Hormuz softs

Distinct from Al Marrouna LNG, Kuwait Hormuz STS, and Tuesday’s Saudi energy halt.

Informational only. Not trading advice, signals, or a guarantee of any market outcome.