With the global LNG market looking well-supplied, Qatar, the world’s largest producer, is adapting to lower prices. Such adaptations are given added urgency by the prospect of more LNG coming online in the coming months.
With its 77mn tons/year of LNG export capacity, Qatar has built a reputation as a reliable, key supplier acting as a swing producer between Europe and Asia and honoring its oil-indexed long-term contracts with buyers (MEES, 17 April). But like other Gulf producers, it has been shaken by crude prices more than halving since mid-2014 – Brent is currently trading around $50/B. (CONTINUED - 1089 WORDS)
