Gas deal: UK in talks with Qatar

Partagez:

A gas deal is reportedly under discussion, although the UK denies all rumors of Qatari gas supplies.
However, the British Prime Minister and the Emir of Qatar recently met to discuss the situation.

Long-term gas agreement in sight?

The Financial Times explains that Qatar has already redirected four large LNG carriers to the UK.
The first convoy, Al Aamriya, arrived at the South Hook LNG terminal in Wales on October 29, 2021.

The second tanker, Mozah, arrived last Wednesday.
The other two convoys, Al Bahiya and Al Samriya, will arrive over the next few days.
These supplies are all the more important as they represent almost a third of the UK’s average monthly imports.

What’s more, the British government hasn’t paid for these supplies, and Qatar will sell the gas directly to the British market.

British energy suppliers in the doldrums

This crisis is the result of higher natural gas prices following the end of various health restrictions.
Added to this is strong demand from Asia and low supplies from Russia as inventories dwindle.
Although this crisis is having a major impact on Europe, the UK seems to be the hardest hit.

Gas accounts for around 40% of the country’s electricity production, and this crisis is taking its toll on electricity suppliers.
CNG Energy is the latest British supplier to file for bankruptcy.
The 17th since September 2021.
The CEO of energy group Scottish Power has warned that around twenty companies could disappear in the coming months.

To remedy this,Ofgem is considering changes to the price cap.

Competition with Asia

Although the government claims that energy supplies are secure for the winter, the reality is quite different.
The UK is competing with Asia, as the continent has long-term contracts with Qatar.
With long-term gas supplies from Qatar, the country wants to stop the hemorrhaging of its energy suppliers.

The small-scale liquefied natural gas market is forecast to grow at an annual rate of 7.5%, reaching an estimated total value of $31.78bn by 2030, driven particularly by maritime and heavy-duty road transport sectors.
The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
The Irish-Portuguese company Fusion Fuel strengthens its footprint in the United Arab Emirates as subsidiary Al Shola Gas adds AED4.4 mn ($1.2 mn) in new engineering contracts, consolidating an already robust 2025 order book.
Cheniere Energy validates major investment to expand Corpus Christi terminal, adding two liquefaction units to increase its liquefied natural gas export capacity by 2029, responding to recent international agreements.
A study by the International Energy Agency reveals that global emissions from liquefied natural gas could be significantly reduced using current technologies.
Europe is injecting natural gas into underground storage facilities at a three-year high, even as reserves remain below historical averages, prompting maximized imports of liquefied natural gas (LNG).
Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.
Russia positions itself to supply liquefied natural gas to Mexico and considers expanded technological sharing in the energy sector, according to Russian Energy Minister Sergey Tsivilyov.
Israel has partially resumed its natural gas exports to Egypt and Jordan following a week-long halt due to the closure of two major offshore gas fields, Leviathan and Karish.
Nepal reveals a significant potential reserve of methane in the west of the country, following exploratory drilling conducted with technical support from China, opening new economic prospects.
Petronas formalizes a memorandum with JOGMEC to secure Japanese LNG deliveries, including a first cargo from LNG Canada scheduled for July at Toho Gas.
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
Belgrade is currently finalising a new gas contract with Russia, promising Europe's lowest tariff, according to Srbijagas General Director Dusan Bajatovic, despite Europe's aim to eliminate Russian imports by 2027.
TotalEnergies and QatarEnergy have won the Ahara exploration licence, marking a new stage in their partnership with SONATRACH on a vast area located between Berkine and Illizi.
After four years of interruption due to regional insecurity, TotalEnergies announces the upcoming resumption of its liquefied natural gas project in Mozambique, representing a $20bn investment.