Crude prices have fallen below…
Smelter shutdowns in Europe and…
Qatar’s exports of liquefied natural gas (LNG) to India and Pakistan grew by 50 percent annually over the first half of the year. LNG deliveries to South Asia reached 7,138,785 metric tons from January to June, which is an increase of 46 percent compared to the same period in 2015. Of this, Qatar delivered 6,045,886 metric tons to India.
The India shipments resulted from a revised contract between India’s Petronet and Rasgas of Qatar. In December of last year, the two companies re-worked a long-term agreement that had stipulated the delivery of 7.5 million metric tons of LNG per year to India. The revision followed Petronet delivering some 30 percent less than the amount it had agreed to deliver up to September 2015.
According to the new revisions, the volumes not taken in 2015 would be purchased during the term of the contract with 1 million metric tons added to the total contract volume.
In Pakistan, Petronet delivered some 1,092,899 metric tons of LNG during the first half of 2016. The increase in deliveries was attributed to a new 15-year agreement with Qatargas for the delivery of 3.75 million metric tons per year. That deal was inked in February. Deliveries began in March. During that time, deliveries of LNG from Qatar rose to around three cargoes per month, which was up from one per month for the same period in 2015.
Qatar gas shipments to parts of the Middle East also saw a spike in the first half of this year. The amount was an increase of approximately 20 percent in the shipments to Dubai, Kuwait, Jordan, and Egypt. Egypt had the lion’s share of deliveries. The country has meanwhile purchased two floating storage and regasification units, which will give Egypt the ability to increase its imports. The units were delivered last year.
By Lincoln Brown for Oilprice.com
More Top Reads From Oilprice.com:
Lincoln Brown is the former News and Program Director for KVEL radio in Vernal, Utah. He hosted “The Lincoln Brown Show” and was penned a…