Qatar trumpets significant LNG offtake interest

QP CEO says offers to buy top 60mn t/yr, but an increase in spot market volumes should still not be ruled out

State-owned Qatar Petroleum (QP) has received interest in offtake agreements and sales-and-purchase agreements (SPAs) amounting to double the volume of its 32mn t/yr North Field East (NFE) LNG expansion, the firm’s CEO and Qatari energy minister Saad al-Kaabi told the Qatar Economic Forum. The firm is also twice oversubscribed for the minority equity interest stakes it is offering in the NFE. Qatar’s apparent ability to find buyers for all NFE expansion capacity and then some could be hugely significant in terms of what the LNG market might look like in the middle of the decade. But the reality behind the headline may be more complex. 64mn t/yr – NFE buyer appetite Consultancy Wood M