Qatar backs conditional EU gas supply
Doha, November 16, 2011
Qatari liquefied natural gas (LNG) producer Qatargas plans to maintain deliveries to Europe, although supplies are subject to diversions to higher-paying markets like Asia.
"The largest proportion of Qatargas supplies come to Europe," Iain Scott, assistant director of short-term trading at Qatargas told conference delegates in Rome.
"There is no doubt that cargoes will continue coming to Europe. Having said that, most of this supply is divertible, and if market conditions are right some of it could be diverted," he added.
Britain's growing dependence on LNG makes it more vulnerable to supply losses from key producers like Qatar, which accounts for up to a quarter of UK daily demand.
Falling production from ageing North Sea gas fields since the start of the last decade has transformed the UK from being virtually self-sufficient to becoming a net importer for the first time.-Reuters