Outages affecting roughly 17% of Qatar's liquefied natural gas export infrastructure, alongside broader shipment interruptions across the Gulf, have driven gas buyers to accelerate deals elsewhere, according to a report by OilPrice.com.
At the Gastech industry conference held in Bangkok, event organisers estimated that commercial agreements either finalised or advanced reached an aggregate value of approximately $60 billion. These arrangements included a 20-year supply contract for US LNG as well as a 35-year upstream production agreement covering acreage in the Gulf of Thailand.
The supply shortfall has also redirected commercial attention toward early-stage ventures. Planned export developments in Argentina, Timor-Leste and Tanzania reportedly attracted interest from potential off-takers and institutional investors looking to diversify away from Gulf supply risks.
Despite the physical supply tightness in natural gas, wider energy markets experienced a sharp downward correction on Monday, with crude oil benchmarks falling below the $100 per barrel mark.