Qatar has been by far the largest supplier of spot and short-term LNG for several years. It now faces significant competition in the market for “flexible” LNG – in the face of the looming supply glut – and is responding accordingly: by signing mid-term contracts with European companies to tide it over the expected period of oversupply, which looks likely to extend well into the 2020s; and by taking the opportunity presented by low prices to build new long-term markets, notably in Asia.
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