Axar.az
UP
22 May 2018


UAE, Egypt to replace LNG supplier due to Gulf crisis

Home page Economy
12 Punto 14 Punto 16 Punto 18 Punto

Qatar's LNG supplies to the United Arab Emirates (U.A.E.) and Egypt will likely have to stop, according to the Chief Executive Office of Dubai-based consultancy Qamar Energy, Robin Mills, on Friday.

Axar.az reports citing Anadolu Agency.

Mills told Anadolu Agency that if direct LNG supplies from Qatari ports to the U.A.E, and Egypt cease due to the imposition of sanctions, both countries will need to find other alternative suppliers.

"Qatar’s shipping, including oil and LNG tankers, is being affected logistically by not being able to call at U.A.E. ports," Mills said.

He noted, however, that pipeline gas supplies are safe for now from Qatar.

Qatar provides over 25 percent of the U.A.E.'s natural gas consumption.

"I doubt Qatar would cut it off unless they are really desperate, as it would be a very aggressive move and would badly damage their reputation with other suppliers," he argued.

Five Arab states, including Saudi Arabia severed diplomatic ties with Doha on Monday, accusing it of supporting terrorism in the region.

Mauritania and Senegal followed suit, while Jordan downgraded its diplomatic relations with Doha.

Qatar, known as the world's biggest LNG supplier, is ideally located to play arbitrage between the Atlantic and the Pacific basin.

In 2016, the country exported around 77 million tons of LNG, mostly to Asia.

Date
2017.06.09 / 20:36
Author
Axar.az
Comments
See also

Germany expresses support for Nord Stream-2 project

Canada's Trudeau says feeling positive about NAFTA talks

EAEU, Iran sign provisional deal to create free trade zone

Soros' open foundations ends to operations in Hungary

IMF: Azerbaijan's economy grew by 4% last year

Modern tourism industry to appear in Azerbaijan

TANAP project to enter into service in June

Tesla to launch in Turkey this year: CEO

Iran markets new oil brand amid sanctions threat

Alibaba beats sales forecasts on strong commerce growth

Latest
 
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla