Saudi Arabia and the UAE’s cessation of diplomatic ties with Qatar this week (MEES, 9 June) has raised serious concerns about the potential impact this will have on global oil and gas markets. The good news is that while there may be some logistical headaches, any trade disruption should be manageable.
As the world’s largest LNG exporter with capacity in excess of 77mn t/y, Qatar is a crucial global supplier of gas. It also chipped in with 504,000 b/d crude oil exports and 451,000 b/d of refined products in 2016, alongside around 500,000 b/d of condensate. (CONTINUED - 1293 WORDS)