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Saudi Arabia and the UAE’s cessation of diplomatic ties with Qatar this week (see p2) 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.
Any disruption to the flow of Qatari exports would not just provide a seismic economic shockwave to Doha but would send buyers scrabbling around for alternative supplies. Luckily for them, this won’t be the case as Qatari exports through the Strait of Hormuz will continue unabated. (CONTINUED - 1293 WORDS)
DATA INSIDE THIS ARTICLE
|chart||Total's Mideast Oil Output: Qatar's Al-Shaheen Set To Provide 2017 Boost ('000 B/D, Net)|
|chart||...While Qatar Supplies 82% Of Total's Middle Eastern** Gas Production (MN CFD)|
|table||Qatar's LNG Liquefaction Capacity|