Qatar increases LNG production – Kommersant
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The Qatari authorities intend to increase natural gas production and LNG production against the backdrop of falling world gas prices. Last Saturday, the head of the state energy company Qatar Energy, Saad al-Kaabi stated about plans to increase LNG production by 16 million tons, to 142 million tons per year in the next 3–5 years.
As Reuters reports, LNG prices have reached a three-year low due to a relatively warm winter in the Northern Hemisphere, which has significantly reduced demand for this fuel. The price correction occurred after a record increase in 2022, which occurred against the backdrop of the military conflict in Ukraine.
Goldman Sachs analysts believe that the increase in LNG production in Qatar will prolong the bearish trend in the LNG market, which is already facing an excess of supply over demand. “Overproduction will increase the risks that world gas prices will continue to decline, especially from 2026, when new Qatari capacities are commissioned,” experts believe.
Read about the forecast for long-term demand for LNG in the world in the Kommersant article. “Gas will soon fill all volumes”.
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