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State-backed Qatar National Bank (QNB) raises questions as it forecasts LNG market tightness and high prices over the medium-term.
QNB, in a report released this week, says that it expects a strong LNG market despite the US shale gas revolution’s and the recently-signed $400bn deal for Russia to pipe gas to China, where gas is in greater demand amid a switch to cleaner fuel supplies.
Going forward, the LNG market “remains bright and is likely to result in high LNG prices for years to come. This will continue to support Qatar’s large current account surplus.” Of course, Qatar’s economy hinges on LNG: its 77mn tons/year of export capacity equates to about a third of the global LNG trade and its comparatively low production costs lead to high margins for the state. (CONTINUED - 1398 WORDS)
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