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LNG: Qatar’s Uncontracted LNG Supply Could Spur Spot Market Involvement: Platts

LNG
Energy BulletsBulletPower BulletsCommodities

QatarEnergy is expected to shift its LNG strategy towards shorter contracts and spot market volumes, Platts said

  • Qatar will have around 61m mtpa of unsold capacity across all projects when the North Field West project reaches commercial start, 40% of the country’s export volumes, Platts estimates.
  • Qatar’s long-term contract signings have slowed. Competition from other exporters like ADNOC and US LNG suppliers - offering more flexible terms - is intensifying.
  • QatarEnergy's reluctance to ease contract terms or lower prices has hampered competitiveness. The company may need to adjust its approach, such as reducing contract tenures – currently around 27 years -  or easing destination restrictions from one country to a region, e.g. Northeast Asia.
  • QatarEnergy exported 75m mt in 2024, 10%-11% was sold as spot cargoes.
  • QatarEnergy also plans to become a leading LNG trader within 5-10 years. One strategy is to take origination positions in the global market which could be backfilled at prevailing prices later. 
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QatarEnergy is expected to shift its LNG strategy towards shorter contracts and spot market volumes, Platts said

  • Qatar will have around 61m mtpa of unsold capacity across all projects when the North Field West project reaches commercial start, 40% of the country’s export volumes, Platts estimates.
  • Qatar’s long-term contract signings have slowed. Competition from other exporters like ADNOC and US LNG suppliers - offering more flexible terms - is intensifying.
  • QatarEnergy's reluctance to ease contract terms or lower prices has hampered competitiveness. The company may need to adjust its approach, such as reducing contract tenures – currently around 27 years -  or easing destination restrictions from one country to a region, e.g. Northeast Asia.
  • QatarEnergy exported 75m mt in 2024, 10%-11% was sold as spot cargoes.
  • QatarEnergy also plans to become a leading LNG trader within 5-10 years. One strategy is to take origination positions in the global market which could be backfilled at prevailing prices later.