Wednesday, October 28, 2009

Qatari LNG to China

Among the big fears for U.S. natural gas suppliers is a flood of LNG from foreign countries like Qatar, where Exxon has helped the Qataris create a massive LNG export machine. I read today that China has struck a sweet deal with Qatar (sweet for the Qataris, that is) to supply a portion of China's natural gas needs for 25 years. Now Qatar is diverting 10% of its natural gas exports from the U.S. to China because China is willing to pay more.

Sounds like a win for the U.S. domestic natural gas industry to me.

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