Reports from Doha suggest that the current estimated global gas demand and available supply will remain excessively tight.
The same reports add that Qatar Energy (QE) has only a limited capacity to compensate for the possible further loss of Russian pipeline gas to Europe.
The Russians export roughly 150 billion cubic meters (bcm) of gas to Europe each year, over a third of the continent’s yearly imports.
By comparison, Qatar’s current total LNG output is 77 MTPA, or nearly 100 bcm a year. The vast majority of this supply is already spoken for in long-term contracts - 57 MTPA of which go to Asia and 17 MTPA combined to Western and Eastern Europe a year in 2021.
In talks with the US over the present Ukraine situation, Qatar Energy has indicated that...