European countries are buying gas at sky-high prices and scrambling to curb energy use to avoid fuel shortages this winter, but early weather forecasts point to the risk of a cold snap that could temporarily hike demand. Surging European gas and power prices as the result of reduced Russian supplies …
Read More »Qatar at 77mn Tonnes Accounts for 21% LNG Exports Market Share in 2021
Qatar, the second-largest LNG exporter in 2021, exported 77mn tonnes, compared to 77.1mn tonnes in 2020, International Gas Union (IGU) said in its World LNG report – 2022. Qatar accounted for 21% exports market share last year, IGU noted. Australia remained the largest exporter in 2021, exporting 78.5mn tonnes, an …
Read More »Qatar’s Future Role in Global LNG Trade Very Promising
The outlook for Qatar’s future role in global LNG trade is very promising since the country has a great potential to send its LNG cargoes into Asian markets with lower shipping costs compared to other LNG suppliers, the Gas Exporting Countries Forum (GECF) has said in a report. Additionally, Qatar …
Read More »Qatar to Regain Its Top Slot in LNG Exports by 2026
Qatar is all slated to regain its position as the preeminent and largest exporter of liquefied natural gas (LNG) by 2026 with the North Field (NFE) output coming on stream, according to the latest Qatar Economic Outlook (QEO) Qatar’s LNG exports competed with Australia’s for the first place in 2020, …
Read More »Natural Gas as Viable Option to Balance the Scales Post-Covid
Further investments in environment-friendly natural gas are essential to achieve energy equality for all parts of the world in a sustainable manner. This is of particular significance as the global economy moves from under the shadow of the coronavirus pandemic, which has resulted in shortage of gas in Europe and …
Read More »As Oil Eyes $100, Consumers Ask OPEC+ for more Supplies
For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ alliance, warned that $100 a barrel was a distinct possibility, the alarm …
Read More »World Bank: Qatar’s ‘Strong Growth Rebound’ Seen on Growing Asian LNG Demand
Qatar is forecast to post a “strong growth rebound” with LNG demand in South and East Asia underpinning medium-term prospects, World Bank said in its Gulf Economic Update (GEU). Qatar’s economy is projected to grow by 3% in 2021 before accelerating to 4.1% in 2022 and 4.5% in 2023, World …
Read More »IGU: Qatar Among Six LNG Export Markets with 90% Plus Liquefaction Capacity Utilisation in 2020
Qatar is among six LNG exporting markets that have achieved utilisation rates of more than 90% liquefaction capacity in 2020, according to the International Gas Union (IGU). Global liquefaction capacity reached 452.9mn tonnes per year (mtpy) at the end of 2020 and the utilisation rate was 74.6% on average compared …
Read More »OPEC+ Compromise Deal still Favours Saudi and Russia
Saudi Arabia and Russia have clinched a deal for an OPEC+ production increase by partly submitting to the United Arab Emirates’ demands for a more generous quota. But the compromise still leaves Riyadh and Moscow on top. Of all the adjustments agreed recently to the group’s baselines – the level …
Read More »QP Signs Pact with Shell to Supply China with 1mpta LNG for Ten Years
Qatar Petroleum (QP) on Wednesday entered into a long-term Sale and Purchase Agreement (SPA) with Shell for the supply of 1 million tons per annum (MTPA) of LNG to the People’s Republic of China for ten years. LNG deliveries will commence in January 2022 to various LNG terminals in China, …
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