• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Does Toyota Know Something That We Don’t?
  • 5 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 19 hours America should go after China but it should be done in a wise way.
  • 5 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 4 days China is using Chinese Names of Cities on their Border with Russia.
  • 5 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 4 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 5 days Putin and Xi Bet on the Global South
  • 5 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 6 days United States LNG Exports Reach Third Place
  • 6 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 9 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
Israel-Hezbollah Tensions Flare Up

Israel-Hezbollah Tensions Flare Up

Cross-border missile exchanges between Israel…

Qatar Seeks Long-Term LNG Deals With EU Importers

Emboldened by a recent 20-year LNG deal a German energy company signed with a U.S. exporter, Qatar—another top LNG exporter—is now seeking long-term contracts with EU importers, which are racing to procure non-Russian gas, Bloomberg reported on Thursday, citing sources with knowledge of the talks.

EU nations, for their part, want shorter LNG import commitments, as the bloc is also looking to stick to its goals to reach net-zero by 2050. The EU importers also argue that the Qatari supply offer is less flexible and doesn’t allow much room for diverting supply to other buyers, according to Bloomberg’s sources. 

Qatar signed last month an agreement with Germany on energy partnership that could grow into LNG trade relations, but the countries haven’t signed any deals yet.  

But German utility EnBW signed earlier this week a 20-year supply deal with U.S. firm Venture Global LNG in a first direct binding offtake agreement for long-term U.S. LNG signed by a German company.

This, according to Bloomberg’s sources, has emboldened Qatar to seek long-term deals with EU buyers.

Qatar announced last year the world’s largest LNG project, which is set to raise Qatar’s LNG production capacity from 77 million tons per annum (mmtpa) to 110 mmtpa. The project, expected to start production in the fourth quarter of 2025, will cost US$28.75 billion. Qatar also plans another expansion phase at the North Field, the world’s largest natural gas field, which it shares with Iran. The second expansion phase will be the North Field South Project (NFS), set to further increase Qatar’s LNG production capacity from 110 mmtpa to 126 mmtpa, with an expected production start date in 2027.

Over the past week, state firm QatarEnergy has picked international oil and gas majors ExxonMobil, ConocoPhillips, Eni, and TotalEnergies as partners in the North Field East expansion project.  

By Charles Kennedy for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News