Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- LNG supply to face competition in future  Join our daily free Newsletter

MENAFN - The Peninsula - 29/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Long-term volumes of LNG will have to compete with domestic and piped gas, said Qatargas Chief Executive Officer, Khalid bin Khalifa Al Thani, expressing views on the global LNG market fundamentals at the Monthly Gas Lecture organised last week by the Gas Exporting Countries Forum (GECF) in Doha.

"Even though the gas demand forecast in Latin America is relatively high, long term volumes of LNG will have to compete with domestic and piped gas. Additionally, these markets will most likely be supplied by North American LNG volumes from upcoming new regional projects" he said. Qatar delivers LNG to 26 out of a total of 29 LNG importing countries, accounting for 33 percent of the world's LNG supply. The bulk of these supplies are to Asia, which holds 75 percent of total LNG demand.

The number of LNG importing countries in Latin America has doubled, from only three in 2007 to six in 2013and is expected to reach nine by 2016.

The Gas Lecture Series is a GECF initiative designed to encourage discussions and debates on natural gas related topics in the energy sector involving all stakeholders.

The LNG demand in Europe has been reduced by the Great Recession, Asia's strong pull on flexible cargoes, cheap US coal imports and government subsidised renewable energy sources. However, he expressed his optimism regarding the resurgence of Europe's LNG demand as its economy strengthens. "Europe's long-term LNG demand will rebound as its economy improves; indigenous gas declines; supply source diversity becomes critical and gas is required to support intermittent renewable energy needed to meet environmental targets. We believe deliveries will approach 100 million tonnes per annum (MTPA) by 2025" he said.

The LNG demand in the Asia Pacific region, the world's biggest LNG market, has almost doubled since 2005 and is expected to reach 320 MTPA by 2025. Although China and India will experience strong LNG demand, the major area of LNG growth will come from South East Asia, a region which had not imported LNG until just three years ago.

Global LNG demand is expected to double in ten years' time, with 400 MTPA of proposed additional volumes to come online by 2025. However, a significant portion of these new projects will be delayed or cancelled due to the various challenges involved in bringing new supply on-stream. The LNG market will continue to be tight in the short and medium term as demand growth outpaces supply.

 


The Peninsula




  MENA News Headlines
 Aug 1 2015 - Qatar Airways refutes US carriers' subsidy claimsMENAFN
(MENAFN) Qatar Airways (QA), in a 'white paper' submitted to the US, has refuted the subsidy allegations against it by the 'Big 3' US carriers.The submission addressed and answered all issues raised ...

 Aug 1 2015 - S&P confirms Doha Insurance rating at 'A'MENAFN
(MENAFN) Standard & Poor's Ratings Services affirmed its 'A' insurer financial strength and counterparty credit ratings on Qatar-based Doha Insurance Co. QSC (DIC). The outlook remains ...

 Aug 1 2015 - Foreign firms eye USD5b Saudi gas projectMENAFN
(MENAFN) Foreign engineering firms have submitted bids to build a gas plant in eastern Saudi Arabia for Saudi Aramco at an estimated cost of USD5 to USD6 billion, industry sources said.Saudi Aramco's ...

 Aug 1 2015 - Qatar- S&P affirms DIC ratings at 'A'The Peninsula
(MENAFN - The Peninsula) Standard & Poor's Ratings Services yesterday affirmed its 'A' insurer financial strength and counterparty credit ratings on Qatar-based Doha Insurance Co. QSC (DIC). The ...

 Aug 1 2015 - Yemen shelling kills 4 on Saudi borderThe Peninsula
(MENAFN - The Peninsula) Rocket fire from war-wracked Yemen on Friday killed threeSaudi soldiers and a member of a paramilitary force, in the deadliest border incident for several weeks, the interior ...

 Aug 1 2015 - Al-Qaeda in Syria attacks US rebel baseThe Peninsula
(MENAFN - The Peninsula) Al-Qaeda's Syria affiliate launched a fierce assault on the headquarters of a US-trained rebel group Friday, while claiming responsibility for capturing members of the ...

 Aug 1 2015 - 4 killed as Saudi private jet crashesThe Peninsula
(MENAFN - The Peninsula) Pilot and three passengers are killed after Saudi private jet crashes into a car dealership near Hampshire airport after overshooting the runway as it tried to land.The small ...

 Aug 1 2015 - Palestinian baby dies in home attackThe Peninsula
(MENAFN - The Peninsula) Suspected Jewish settlers torched a Palestinian home in the occupied West Bank yesterday, killing an 18-month-old boy and seriously injuring his parents and elder brother, an ...

 Aug 1 2015 - Houthis lose ground in Yemen's southThe Peninsula
(MENAFN - The Peninsula) Southern Yemeni fighters backed by a Saudi-led air coalition seized more territory from Houthi militiamen near Aden yesterday, while three Saudi soldiers were killed when the ...

 Aug 1 2015 - Kurdish attack kills two Turkish copsThe Peninsula
(MENAFN - The Peninsula) Two more Turkish police were killed yesterday in an attack blamed on Kurdish militants as tensions in the country boiled over amid the military's cross-border bombing ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help