*Australia has long-since usurped Qatar as top LNG supplier to Japan and China. Qatar remains number one for number three importer South Korea and number five Taiwan. But it is increasingly a close run-thing. In Korea, Qatar’s market share fell to a 9-year low 22.7% for 2020; in Taiwan, Qatar’s 2020 market share of 28.5% was a 10-year low.
*For much of 2020 LNG prices under Qatar’s long-term contracts were well above spot prices, giving Asian buyers an incentive to minimize offtake. Qatar in turn sold its resultant excess volumes in Europe rather than cannibalize its core Asian market (MEES, 15 January). (CONTINUED - 313 WORDS)