Qatar LNG shuns Europe [Gas in Transition]

Qatar LNG shuns Europe [Gas in Transition]

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Natural Gas News
Qatar LNG shuns Europe [Gas in Transition]

Summary

With European gas policies discouraging long-term contacts, unless changed, Qatar LNG will be shunning Europe, opting for Asian clients who are more willing to enter into such contracts. [Gas in Transition, Volume 3, Issue 6] by: Charles Ellinas

The energy crisis and the war in Ukraine have made energy security a priority, ahead of climate change concerns. That, and Europe’s goal to rapidly reduce dependence on Russian gas, have given a new lease of life to the global LNG market. Energy security and sky-high energy prices last year are changing LNG contract preferences in favour of long-term deals. This also applies to Qatar LNG. Even though in the aftermath of the invasion of Ukraine by Russia Qatar was quite willing to contribute to Europe’s drive to diversify away from Russian gas, the priority now is buyers that are willing to buy for the long-term. Qatar considers this necessary to provide supply security and stability well into the future, irrespective of how the global markets develop, but also to secure its own financial future. Qatar LNG In 2022 Qatar was the largest LNG exporter in the world with 80mn metric tons, followed closely by...