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Qatar LNG Spot Sales to Fall 40% by 2014, QNB Says

Qatar, the world’s biggest producer of liquefied natural gas, will reduce spot-market sales of the fuel by at least 40 percent by 2014, curbing supplies available for Europe, state-controlled Qatar National Bank said.

Spot volumes available for sale will drop to about 27 percent of total output this year from 28 percent, and to 16 percent by 2014 as long-term supply agreements go into effect and new ones are signed, the bank’s QNB Group said in a report.