Qatar Seeks Buyers For LNG Expansion Projects

Qatar is still in need for around two-thirds of the supply from its planned LNG expansion projects as it aims to increase its LNG-producing capacity by 64% by 2027 according to several sources.

• Qatar has so far contracted out around a third of its new capacity. This year it signed two long-term contracts with TotalEnergies in France and China’s Sinopec this year.
• “There is still a hell lot to sell, but there is progress,” said Anne-Sophie Corbeau, a researcher at the Center on Global Energy Policy at New York’s Columbia University.
• Qatar will also re-market volumes from older contracts that are nearing expiry. That includes about 13mtpa of deals which expire in 2028, according to Corbeau.
• “The big question is whether the large deals which will be expiring over the next few years will indeed expire, or be extended,” she said.
• “Qatar will face an uphill task to expand market shares in Europe’s LNG market since US producers are chasing to secure long-term supply agreements with importers who are seeking to reduce dependence on Russian gas,” BMI said.
• The country is expected to increase its LNG-producing capacity by 64% to 126mtpa by 2027. The expansion of the North Field East expansion that will add 32mtpa and the extension to the North Field South will add 16mtpa.