Middle East

Qatar’s LNG exports to Europe will increase in January amid rising demand-Doha News

The European Union wants liquefied natural gas (LNG) to be shipped to Qatar in case Russia could invade Ukraine.

Qatar’s exports of LNG to Europe are reported to have increased by 65.1% in January 2022 compared to the same month in 2021.

Data collected on a Qatar basis Lucail NewsIt also believes that the increase in exports is due to the increase in destinations to receive Qatargas.

Worldwide, Qatar shipments have reached more than 14 destinations. LNG exports in the Gulf countries reached 21% of the world market, reaching up to 7.2 million tonnes.

Five destinations in Northern and Western Europe acquired more than 1.1 million tons in January, with more than 1.2 million tons in transit. The UK has about 461,000 tonnes, surpassing European destinations, followed by Italy with 380,000 tonnes and Poland with 91,000 tonnes. Belgium also received about 76,000 tonnes.

Qatar states that in tensions between Russia and Ukraine, Europe’s gas supply alone cannot be met.

Europe is currently tackling the worsening energy crisis during the high-demand winter.The price of natural gas is 4 times higher Compared to last winter.

Main factors Expert quote Low gas storage levels, reduced LNG supply, and reduced gas supply in Russia.

Recent tensions between Russia and Ukraine pose a threat to Europe’s energy supply, given that it receives 40% of its gas supply from Russia. Almost one-third of shipments pass through Ukraine. EU officials are discussing providing gas transport to Europe in case Russia could invade Ukraine.

Qatar supplies up to 5% of Europe’s LNG supply, and Gulf states officials said they could not unilaterally close the supply gap.

Asia remains the highest market for Gulf countries, with India surpassing its January destination.

India received more than 1.2 million tonnes, followed by China at about 1 million tonnes, South Korea at about 661,000 tonnes and Pakistan at 504,000 tonnes.

Lusail data predicts that China will lead gas exports when the cargo currently in transit is delivered.

According to the data from S & P Global Platts AnalyticsQatar, the world’s largest LNG exporter, reached 110.2 bcm (1 billion cubic meters) of gas supply last year. This was followed by Australia at 107.2bcm, followed by the United States at 96.3bcm.

Qatar also has an LNG production capacity of up to 77 million tonnes / year (metric tonnes / year). This number will increase through the world’s largest Northfield expansion project.

Through this project, QatarEnergy will become the largest provider of natural gas by 2030.
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