In the early 1990s, Qatar transformed its struggling economy by betting on natural gas, leading to the development of Ras Laffan as the world's largest LNG export center; however, an Iranian missile strike in March 2023 severely damaged the facility, disrupting global LNG supply and causing significant economic repercussions for Gulf states, while raising concerns over the region's stability and future investments. #Qatar #LNG #MiddleEastEconomy #QA #IR #US #BH #KW #SA #AE #CN #GA #LB #SY
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Gulf economies face long-term hit from Iran conflict
In the early 1990s, Qatar was grappling with a period of economic strain - high debt levels and weak state revenues were weighing heavily on its finances.