Qatar exported only 18 LNG shipments over the past six months, compared to 509 in the same period last year, a 96% collapse, according to Reuters. The Gulf state lost an estimated $24 billion in LNG revenue, the report says, attributing the decline to the conflict with Iran.
Reuters reports that Qatar's liquefied natural gas exports have collapsed by 96% over the past six months, citing a sharp drop in shipments from 509 to just 18 as the Gulf state's conflict with Iran disrupts its energy sector. The report estimates a $24 billion revenue loss for Qatar.
The development follows earlier signs of economic strain in Doha. As The Zioneer reported in August, citing the Financial Times, Qatar had already cut government ministry budgets by up to 30% and foreign aid by 85% in response to war damages. The new Reuters figures provide the first detailed view of the toll on Qatar's LNG industry, a cornerstone of its economy.
The report also notes that increased U.S. LNG exports have partially filled the global gap, but warns that depleted European gas reserves could drive prices higher this winter. The figures are based on Reuters' analysis of shipping data and trade records; independent verification is pending.
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