Qatar will face rising comeptition for its gas exports and could see its revenues drop by as much as 30% in the next ten years, a new report has said.
The global market for natural liquified gas (LNG) is set to expand with Australia and Africa taking over significant portions of Asia – Qatar’s biggest market.
The report warned that more LNG deals secured at spot or hub prices could reÂsult in a decline in Qatar’s annual gas export revenue to $37bn in 2026 from $56.5bn in 2013, before recovering to $45.5bn by 2030.
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The Gulf Arab state is the world’s largest LNG exporter but Australian and African producers are increasingly investing in new projects and offering cheaper short-term contracts to Asian buyers.
The International Monetary Fund has projected that QaÂtar’s LNG export revenues could fall by $6.2bn between 2013 and 2019.
“Australia, and to a lesser extent Nigeria, could emerge as significant LNG suppliers with Australia challenging Qatar as the world’s largest LNG exporter,” according to the Canadian Association of Petroleum Producers.Â
North American gas exports also pose a challenge to existing players, including Qatar the association said.Â
