LNG
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Economy
EU may need to cut winter gas demand by 7% as storage hits record low
The EU could have to curb gas consumption by 7% this winter, the Institute for Energy Economics and Financial Analysis warned on Friday, with stocks at their lowest for the time of year on record and the Iran war keeping prices high ahead of a full ban on Russian LNG imports from January 2027.
Business
QatarEnergy eyes LNG production in early 2027 amid $3bn loan reports
QatarEnergy is advancing its LNG expansion and has reportedly secured a $3 billion (€2.68bn) loan from Chinese banks as war damage and shipping risks constrain exports. Shipments through Hormuz are recovering, but remain far below pre-war levels.
Europe News
Rubio urges Europe to take on more defence responsibility
The US secretary of state held talks on energy, military cooperation and regional security, pointing to Greece as an example of higher defence spending. The agenda also included LNG, F-35s, the Eastern Mediterranean and the Strait of Hormuz.
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Economy
Qatar rules out Hormuz bypass, launches new investments platform
Qatar said a gas pipeline to bypass the Strait of Hormuz would make no economic sense. It also launched a new investment platform to manage QIA’s domestic holdings and outlined more than $60bn in investment opportunities, in a major reshaping of its sovereign wealth strategy.
Business
Egypt, Greece and Cyprus back plans to bring Cypriot gas to Europe
Cyprus’ Cronos gas is expected to reach European markets via Egypt from 2028, with Greece offering an onward route into southeastern and central Europe. The three countries renewed their backing for the plan at their El Alamein summit.
Economy
Qatar’s budget deficit more than doubles amid LNG disruption
The first-half shortfall has exceeded Qatar’s original full-year forecast. Doha has said cuts to operating spending exclude salaries and capital projects, while European gas buyers face delivery cancellations extending into early November as the Iran war postpones revenue.
Economy
European gas prices keep climbing as IEA calls for emergency reserves
With European gas prices hitting the highest since early 2023, the International Energy Agency says governments should consider strategic reserves, more flexible contracts and closer international cooperation to prepare for future natural gas shortages.
Business
Qatar extends LNG cancellations as Hormuz disruption drags on
QatarEnergy’s latest cancellations run into early November. Buyers in Europe and Asia are finding replacement cargoes, switching to other fuels or using less gas, while no one knows when LNG shipping through the Strait of Hormuz will return to normal.
LNG