Qatargas highlights possibilities for LNG in Europe at FLAME 2013 Conference
- Qatar: Thursday, March 14 - 2013 at 13:46
- PRESS RELEASE
Qatargas' Chief Operation Officer - Commercial and Shipping, Mr. Alaa Abujbara, addressed the challenges surrounding energy supply in the European markets to an audience at the annual Flame conference held in Amsterdam.
The presentation focused on three key issues: first, public opinion surrounding nuclear power, second, environmental impacts facing coal, and third, the cost as well as land usage of renewable energies.
For Qatargas, natural gas and more specifically LNG is a clear energy choice for Europe when compared to its alternatives, such as nuclear, coal and renewables.
Furthermore, Qatargas sees the European gas markets as being susceptible to supply disruptions when local production or imports are reduced. Aggressive procurement by traditional buyers and emerging LNG players in order to fulfill their current and future energy needs for their growing economies may lead to a decrease in the availability of LNG for Europe.
Alaa Abu Jbara, Chief Operations Officer of Commercial & Shipping for Qatargas Operating Company Limited, said, Asia and other emerging markets are pulling on Qatargas' flexible portfolio and thus our available LNG volumes are becoming limited. I believe that Europe needs to determine their desire for LNG and plan a path forward for the future. The clock is ticking, don't wait until the last LNG ship has sailed away. Now is the time for Europe to secure long-term LNG supply to guarantee their energy security."
From Qatargas' perspective, Europe needs to take action and address its long term LNG requirements as its volumes are quickly being consumed by emerging market buyers.
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