The explosion of European gas prices amid the fallout from the Ukraine conflict has transformed the continent’s economic relations with Qatar. Long the destination of last resort for LNG exporters, Europe has been transformed into a price-maker over the past 12 months, and is now a major revenue generator for Qatar.
Qatar’s exports to Europe more than tripled year-on-year to $7.42bn for Q2, the highest quarterly figure in records going back seven years to 2015. This was despite LNG export volumes to Europe only edging up modestly this year (MEES, 2 September). (CONTINUED - 771 WORDS)