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The conflict over Ukraine has raised concerns in Europe over the sustainability of natural gas imports from Russia, which on average supplies 40% of the European market. Europe is already struggling to meet its energy needs amid soaring global demand as the world emerges from Covid-19 restrictions. European liquefied natural gas (LNG) imports hit a record high of 11.8 billion cubic meters (bcm) in January, while LNG prices are at all-time highs. Against this backdrop, any disruption to Europe’s LNG imports would dramatically worsen the continent’s ongoing energy crisis.
The clash over Ukraine has led the United States to reach out to Qatar and other gas producers to increase their exports. Qatar was the second largest exporter of LNG in 2021, narrowly surpassed by Australia. On Jan. 31, US President Joe Biden hosted Qatari Emir Sheikh Tamim bin Hamad Al Thani at the White House...
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