News about LNG: events, facts and developments on tafs uz.
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In its 'Commodity Markets Outlook' report, the World Bank named the European Union's abandonment of Russian fuel imports as the reason for rising gas prices in Europe. The bank warned that the cessation of Russian LNG supplies in January 2027 and pipeline gas in the third quarter of 2027 will intensify competition for LNG and raise prices in Europe and Asia.
Otabek YusupovQatarEnergy has signed two long-term agreements with the American company Cheniere to purchase up to 4 million tonnes of LNG annually from the Sabine Pass (Louisiana) and Corpus Christi (Texas) plants. Deliveries will begin in 2031 and run until 2054 on FOB terms. The price is linked to the Henry Hub benchmark plus a fixed fee; part of the volumes depends on the final investment decision on the Sabine Pass expansion.
Javlon TursunovThe European Commission said EU gas storage levels are below the historical average due to the impact of the Middle East crisis on LNG prices and supplies. According to Commission spokesperson Anna-Kaisa Itkonen, despite a difficult winter ahead, there is no threat to supply security. The issue was discussed at the European Council summit, and a discussion on creating strategic gas reserves is possible.
Javlon TursunovBrent crude is holding around $110, with WTI above $104, amid the risk of new Iranian attacks in the Strait of Hormuz and record tanker freight rates. Asian LNG prices hit their highest level since December 2022, and European gas is near multi-year peaks. European markets opened lower, while in Asia the tech sector led a sell-off on concerns about the return on AI investments.
Javlon TursunovSpeaking at the opening of the annual Shura session in Doha, Qatar's Emir Sheikh Tamim bin Hamad Al Thani said Qatar was attacked by Iran, pledged to defend sovereignty while avoiding a wider war, and presented a strategy of accelerated economic diversification. Oil and gas revenues fell 42% in the first half of the year, but the non-oil sector accounts for about 80% of real GDP. Qatar will continue expanding LNG production and maintain its mediation role in the region.
Aziz Karimov
