LNG Glut Risk Spurring Qatar 20-Year Asia Deals: Energy Markets
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Qatar is seeking contracts to sell liquefied natural gas to Asia for as many as 20 years as the prospect of booming supplies from Australia, the U.S. and Africa raises the likelihood of a slide in prices.
Ras Laffan Liquefied Natural Gas Co., a venture between Exxon Mobil Corp. and the Qatari state that’s the biggest supplier to India, agreed last month to boost shipments to South Korea by 2 million metric tons a year in the next two decades. The company signed a similar commitment with a Taiwanese buyer in December. Qatar Liquefied Gas Co., the world’s largest LNG exporter, said March 1 it’s negotiating a multiyear sale of the fuel to Pakistan.