Thursday 21 June 2018

After Gazprom probe, EU investigates Qatar's long-term LNG contracts | Reuters

After Gazprom probe, EU investigates Qatar's long-term LNG contracts | Reuters:

"The European Commission is investigating the bloc’s biggest sea-borne gas supplier Qatar Petroleum over potentially restrictive 20-year supply agreements inhibiting development of a single gas market, its latest challenge to a major gas supplier.

The bloc, having just wrapped up a seven-year market abuse probe into Russian giant Gazprom, said it sought to determine if Qatar’s liquefied natural gas (LNG) supply deals with European utilities barred them from diverting shipments within the region.

So-called destination clauses are a fixture of long-term LNG deals that tie buyers to receiving shipments at a specific port, thereby preventing cargo diversions that could undercut Qatar in a third market. "



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