Qatar: new liquefied natural gas supply contracts

Qatar is committed to increasing its liquefied natural gas contracts in 2024, in response to growing demand, particularly in Europe and Asia.

Share:

Qatar Contrats Approvisionnement LNG

Qatar’s Minister of Energy, Saad al-Kaabi, announced at the Qatar Economic Forum the emirate’s intention to sign more contracts for the supply of LNG (liquefied natural gas) this year. This decision was taken to meet growing global demand, which had already led QatarEnergy to sign contracts for 25 million tonnes of LNG the previous year. Qatar, recognized as one of the world leaders in LNG alongside the United States and Australia, continues to strengthen its strategic position in the global market, particularly in Europe and Asia.

Energy and strategic context

Faced with reduced Russian gas supplies due to the crisis in Ukraine, many European countries are turning to Qatar to secure their energy supplies. In February, Qatar also revealed ambitious plans to increase production from its gigantic natural gas field, the largest in the world, shared with Iran, targeting a capacity of 142 million tonnes per year by 2030. These initiatives demonstrate Qatar’s commitment to playing a central role in global energy security.

Outlook for industry leaders

Patrick Pouyanné, CEO of TotalEnergies, and Darren Woods, CEO of ExxonMobil, underlined the importance of LNG in the global energy transition at the same forum. They expressed an optimistic view of LNG’s role, noting that despite climate challenges and criticism of fossil fuels, natural gas is seen as a crucial component in the transition to cleaner energy. Pouyanné specifically mentioned that increasing LNG production capacity worldwide could lead to lower prices, attracting new markets such as India, which is seeking to reduce its dependence on coal.
The expansion of LNG contracts by Qatar illustrates the complex dynamics of global energy demand and the strategic place of gas in the energy transition. With new production initiatives and prospects from industry leaders, LNG remains a key element in meeting growing energy demand while navigating the challenges of sustainability and global energy policies.

Italian group Eni signs a twenty-year liquefied natural gas supply contract with US-based Venture Global, covering two mn tonnes per year and marking a first for the company from the United States.
The discovery of the Gajajeira field marks a major step for Angola, strengthening its natural gas development strategy and diversifying national energy resources in a context of sector transition.
The Voskhod vessel, under US sanctions, docked at the Arctic LNG 2 plant in Russia, marking the second visit by a sanctioned ship to the site this year, according to maritime tracking data.
Japan has urgently secured several additional cargoes of liquefied natural gas from the United States to avert an imminent electricity supply shortage caused by rapidly declining national reserves expected at the end of July.
The European Commission has unveiled a proposal to prohibit the import of Russian gas into the Union, sparking intense debate on its feasibility, contractual impact and consequences for supply security among several Member States.
CNOOC Limited announces the discovery of a significant oil and gas reservoir in the buried hills of the Beibu Gulf, opening new opportunities for shallow water exploration off the coast of China.
TotalEnergies’ Mozambique LNG gas project is at the centre of a legal challenge in Washington, following the approval of a $4.7 bn loan by the US Exim Bank, amid security concerns and opposition from civil society groups.
Investors are closely watching U.S. midstream companies’ announcements regarding new gas pipeline expansions targeting promising markets in the West and Northeast, beyond traditional regions in Texas and the Southeast.
PPL Corporation and Blackstone Infrastructure announce a strategic partnership to develop new gas-fired power plants to supply electricity to data centers through long-term contracts in Pennsylvania.
Falcon Oil & Gas Ltd announces a new record initial flow test result at the Shenandoah S2-2H ST1 well and the start of its 2025 drilling campaign in the Beetaloo Basin.
The Azule Energy consortium has identified a significant gas and condensate field during Angola’s first exploration drilling dedicated to gas, marking a milestone for the country's energy sector.
Technip Energies has secured a contract to lead preparatory works for a floating liquefied natural gas unit in Africa, confirming its presence in the international gas infrastructure market.
The Slovak government is seeking guarantees from the European Union to secure its supplies as talks continue over ending Russian gas and adopting a new round of sanctions.
ArcLight Capital Partners announces the acquisition of Middletown Energy Center, a combined-cycle natural gas power plant, aimed at meeting the substantial rise in energy demand from data centers and digital infrastructure in Ohio.
The commissioning of LNG Canada, the first major Canadian liquefied natural gas export facility led by Shell, has not yet triggered the anticipated rise in natural gas prices in western Canada, still facing persistent oversupply.
Horizon Petroleum Ltd. is advancing towards the production launch of the Lachowice 7 gas well in Poland, having secured necessary permits and completed preliminary works to commence operations as early as next August.
European Union member states have requested to keep their national strategies for phasing out Russian gas by 2027 confidential, citing security concerns and market disruption risks, according to a document revealed by Reuters.
TotalEnergies becomes a member of PJM Interconnection, expanding its trading capabilities in North America's largest wholesale electricity market. The decision strengthens the company's presence in the United States.
Turkey has connected its gas grid to Syria’s and plans to begin supplying gas for power generation in the coming weeks, according to Turkish Energy Minister Alparslan Bayraktar.
Despite record electricity demand, China sees no significant increase in LNG purchases due to high prices and available alternative supplies.