Qatar, Kuwait, Saudi Arabia, the UAE and even Bahrain won’t ever run out of oil. While Qatar and KSA have plentiful gas, much of our and the world’s economy still depends on oil. And it will get ever more expensive to extract.
QA wants to help these countries get ahead of the inevitable.
QA does not know when oil will peak in the GCC. But it is certain it must one day, and it is clearly advantageous to have started the process of hydrocarbon substitution before that date.