According to the global credit rating agency report, Qatar's income levels remain among the highest of rated sovereigns, supporting its credit profile. High GDP per capita, estimated at $77,200 in 2023, in our view mitigates the effects of relatively weak trend growth—measured by the weighted average 10-year per capita real GDP growth rate. Once the NFE project boosts LNG production after 2025, we expect per capita income levels to increase further. QatarEnergy, the state-owned hydrocarbons company, is responsible for all phases of the oil and gas industry in Qatar, including the NFE. QatarEnergy has maintained an interest of about 75 percent in the increase in LNG production capacity of 49 mtpa (to 126 mtpa from 77mtpa). So far, QatarEnergy has signed LNG sale and purchase agreements with its joint venture partners amounting to up to 18 mtpa for terms, about 38 percent of the capacity increase.