Energy is one of the cornerstones of Qatar’s economy and accounts for more than 70% of total government revenue and more than 60% of GDP. Qatar has the world’s third largest natural gas reserves and is the second largest exporter of natural gas in the world.

There are several macroeconomic indicators for Qatar’s economy, with factors such as the extent to which the production and service sectors will recover because of the lifting of Covid-19 measures, and the extent to which the activities of energy and manufacturing sectors will recover due to the rising global demand for their products.

The key lies in the incentives related to improving the business environment with attracting investment, an area where Al Mahhar Holding Group embraces with its commitment to local content and investing in world class infrastructure to support it. This, combined with an investment in people, so we can participate with social and economic development and create equal opportunities in workforce.

Al Mahhar Holding Group believes the group can sustain its development and provide a high standard of return for its shareholders and employees, building with growth rates consistent with real economic expansion of the nation by supporting production growth, identifying future energy segments, and implementing its long-term business plan.

The energy crisis in Europe and the war in Ukraine has caused serious energy shortages, which can be resolved with the help of Qatar, and Al Mahhar Holding Group is uniquely positioned to support this.

The aspiration of the group to be a net zero company is a major priority in the coming 10 years. We are working to materialize the efficient manner to achieve that and are planning investments in this area in 2023. We want to follow the lead of those local companies in Qatar who effectively manage plans towards these goals.

As previously mentioned, local content and building the in-country value program is a major priority which we hope will serve and contribute to Qatar through goods and services, training and building supplier development programs. By this it will contribute to more sustainable economic growth in the energy sector, develop local suppliers and support Qatar to become globally competitive.

Al Mahhar Holding Group is uniquely positioned and aligned to sustain the energy industry with its own long-term plans, will continue to explore future energy segments and expand further into hydrocarbon downstream industries with its local content, products and services.

Clifford W. Lasrado MANAGING DIRECTOR