Qatar believes no single country has the capacity from LNG to replace Russian gas supplies to Europe
‘There is no single country that can replace that kind of volume, there isn’t the capacity to do that from LNG,’ says ministerNeither Qatar nor any other single country has the capacity to replace Russian gas supplies to Europe with liquefied natural gas in the event of disruption due to a conflict between Russia and Ukraine, Qatar’s energy minister said on Tuesday.
The US and its European allies are set to announce fresh sanctions against Russia after President Vladimir Putin formally recognised the independence of the two regions in eastern Ukraine. The sanctions could affect the Russian flow of gas into Europe. “Most of the LNG are tied to long-term contracts and destinations that are very clear. So to replace that sum of volume that quickly is almost impossible,” he said.
It has most of its volumes locked up under long-term contracts mostly to Asian buyers but also sends cargoes to Europe.