BAKU, Azerbaijan, May 27. Qatar’s liquefied natural gas (LNG) exports to Asia in 2021 accounted for 73 percent of total exports, with India, China, and South Korea remaining the main importers, Trend reports via Country Risk & Industry Research from Fitch Solutions.
According to the outlook from Fitch Solutions, Asia will remain the primary market for Qatari LNG exports over the long-term forecast to 2031, with China being a focal point (an increase of 11.8 percent year-on-year at 12.5 billion cubic meters in 2021, compared to 11.2 billion cubic meters in 2020).
Qatar is expected to provide for China’s rising gas demand over the long term, due to the country’s massive expansion of its LNG production capacity from 2025 onward, the forecast noted.
“Despite Qatar’s increasing dominance of Asia’s LNG sector, we note that the competition for market share from other legacy producers, such as Australia and the United States remains substantial,” Fitch Solutions said.
Mainly, Australia continues to rank above Qatar with 106.8 billion cubic meters of LNG exports to Asia in 2021, with China, and Japan as major importers. The USA ranks third among the largest LNG suppliers to Asia with 44.6 billion cubic meters of its LNG exports, the research said.
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