Qatar Proactively Facing Challenges in LNG Sector

Gulf Times quoting from a report published by Standard Chartered has said that in the medium term, Qatar’s prospect for LNG remains fundamentally sound.

Qatar has been very proactive in dealing with LNG challenges so far, the report said. It further added that with the shale gas revolution shaking up markets in North America and demand challenges out of Europe, Qatar has managed to negotiate contracts with many key markets in Asia, selling its LNG at comfortable levels of up to $16 per million British thermal unit.

“Qatari authorities are aware of challenges posed by Australia’s long-term LNG development targets – Australia could produce almost 80mn tonnes of LNG by 2020 if development plans proceed – and are considering developing the country’s petrochemical sector, which is heavily dependent on gas,” the StanChart report said.