Upstreamonline said in a report: The continuous rise in liquefied gas prices and the increased interest from European and Asian consumers have strengthened Qatar’s leading role in the gas market as one of the largest producers of liquefied natural gas in the world, and Doha is implementing plans to increase the production capacity of the giant North Field. A few months ago, Qatari gas was outside the scope of European countries’ consumption, due to its high costs and capital expenditures associated with regasification facilities. However, the European move to avoid Russian gas imports and search for alternatives to enhance their energy security encouraged European countries to turn towards Qatari gas. And close deals to make up for the shortfall, and gas industry watchers believe that this is the best time for Doha to achieve higher capacity than LNG. Spot LNG prices have soared to record levels in Asia in recent months, trading at more than $30 per million British thermal units and forcing major gas consuming nations to consider long-term supply arrangements with producers such as Qatar, Australia and the United States. While rising LNG prices could dampen global demand in the long run, Qatar’s position between Asia and Europe also positions it as a preferred partner for LNG exports, and given the favorable market prospects and changing geopolitics that have opened up the European gas market, it would not be too surprising. If Qatar decides to advance further expansion of the North Field, even beyond the declared capacity.
On the other hand, it is assumed that the demand for natural gas used to operate power stations will remain high in the near term, despite the increase in spot gas prices regionally, as it is expected that the temperature will rise to record degrees in several parts of the United States, which will accelerate the price volatility to about $ 9 per The National Weather Service has forecast that most areas of north-central Texas, Oklahoma and the Central Plains will see highs in the 90s and a hundred degrees Fahrenheit, about 20-30 degrees above normal.
