Qatar LNG Drought to Persist, Drives Up Global Prices

Jera Co., the world's largest liquefied natural gas (LNG) buyer, doesn't expect Qatar LNG to return to the market soon. Chairman and Global CEO Yukio Kani made this statement on Bloomberg TV, citing ongoing disruptions in the Strait of Hormuz.

The lack of LNG from Qatar has contributed to a significant increase in spot prices, which are currently double what they were at the same time last year. The tighter market is causing concern among market participants, who worry about potential shortages this winter.

Kani also mentioned that Europe's seasonally low gas storage levels and the EU's ban on Russian LNG imports from January will lead to further increases in spot prices. He warned that if Europe experiences a severe winter, they may have no choice but to buy more LNG at high prices.