As the European Union Reconsiders Russian Natural Gas, Qatar Waits in the Wings

As the European Union Reconsiders Russian Natural Gas, Qatar Waits in the Wings:



"Throughout the Ukraine crisis, European Union (EU) leaders have become more vocal about their interest in reducing Europe’s consumption of Russian natural gas.

Liquefied natural gas (LNG) tanker. Source: Bloomberg

As a result, Qatar — the world’s number-one provider of liquefied natural gas (LNG) — is well positioned to play a more influential role in Europe’s energy landscape. Although unlikely to replace Russia as Europe’s top natural gas provider, Qatar could assist in significantly decreasing the EU’s reliance on Russian energy resources while at the same time obtaining greater diplomatic leverage over European governments. Fortunately for the EU, Ukraine’s crisis did not erupt several years earlier. In 2006, 80 percent of Russia’s natural gas sales to the EU transited Ukraine. This was reduced to 50 percent by 2013 (two years after the Nord Stream pipeline came on line — connecting Vyborg, Russia to Sassnitz, Germany via the Baltic Sea)."



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