The Persian Gulf state, one of the world’s top LNG exporters, will demand that EU nations sign long-term contracts,

Qatar Energy (QE) has selected Eni and ConocoPhillips to partner on the 32 Mt/year North Field East (NFE) LNG project in Qatar.

Asian buyers will also be competing directly with European LNG importers looking to meet an EU target of filling gas storage to 80% of capacity by Nov. 1.

Asian LNG futures for winter delivery surged to the highest level in over two months.

From January through May 2022, LNG imports into the European Union and the United Kingdom averaged 14.9 Bcf/d, which is 5.9 Bcf/d (66%) more than the annual average in 2021 and 4.7 Bcf/d more than the pre-pandemic high of 10.3 Bcf/d in 2019

"The energy complex is very tight globally and LNG prices will be supported in the next two-three months at the very least," a trading source based in Singapore said June 13.

Jiangsu’s installed capacity for gas-fired power generation exceeded 13 GW in 2021,

Given that a lot of European companies were opting out of paying for Russian gas in rubles, they would have to scout for additional spot cargoes while Asia demand was strong, he said, adding that prices were likely to stay supported above $20/MMBtu in the near term.

Currently, GAIL has a term LNG import deal in place with Gazprom's Singapore-based trading arm.

Some key questions include how much gas or LNG will move from North America to Europe and how much gas demand will move in the opposite direction and when it comes to Europe,