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Wednesday, 5 July 2017

Qatar signals LNG price war for market share in Asia | Reuters

Qatar signals LNG price war for market share in Asia | Reuters:

"Qatar's plan to boost liquefied natural gas (LNG) output by 30 percent is the opening shot in a price war for customers in Asia pitting the Gulf state against competitors from the United States, Russia and Australia. Qatar, facing regional isolation in a diplomatic dispute with its Gulf neighbors, took energy markets by surprise on Tuesday when it said it would raise its LNG production to 100 million tonnes per year - equivalent to a third of current global supplies - within the next five to seven years. It suggests the wealthy kingdom is preparing for a lengthy battle with Saudi Arabia, Egypt, the United Arab Emirates and Bahrain, who were due to meet on Wednesday to decide whether to continue sanctions they imposed on Qatar over accusations it was aiding terrorism and courting regional rival Iran."



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