According to the world‘s leading fuel producers, the supply of liquefied natural gas will remain limited in the coming years and this is because production lags behind the increase in European demand.
According to Qatari Energy Minister Saad Al-Kaabi, “global LNG demand is unlikely to remain at a peak for the next 20-30 years” and meanwhile, according to Meg O’Neill, Woodside Energy Group’s chief executive officer Ltd. in Australia, “the offer will remain structurally short until there is new production of significant capacity, but this will not be until 2026”.
But if on the one hand the Old Continent would seem, at least for this winter, to have averted major problems of energy supply, the game remains open for the next cold seasons, or when the scarcity will be felt given that Europe is now rebuilding its stocks without Russian imports.
In this regard, Qatar, the largest LNG producer in the world, has already made a commitment to offer European countries about 15 million tons of LNG, equal to about 19% of its total capacity.
However, large producers like Qatar usually want to enter into long-term contracts, but countries like Germany have a shorter-term horizon as they aim to reduce their dependence on fossil fuels.