Insight
QatarEnergy signs LNG agreement with CPC, continuing its unstoppable LNG market expansion
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Qatar continues it's unstoppable LNG market expansion, signing a new LNG sales and purchase agreement (SPA) with Taiwan’s CPC. The deal also includes the equivalent of a 1.25% stake in the NFE project for CPC, bringing the total number of international players in the project to eight. Over NFE and North Field South (NFS), 23 mmtpa of LNG remain available to contract. We expect further SPA announcements and further North Field expansion. With Qatar sitting on a reported 2000-plus tcf of gas reserves and the North Field remaining one of the most competitive sources of LNG globally, expansion seems inevitable. Using Wood Mackenzie’s Lens Upstream and LNG tool, we discuss: What this deal means for CPC and the Taiwan regions electricity generation ambitions The potential for another wave of SPA deals over North Field projects Qatar LNG's competitive advantages and the countries seemingly unstoppable LNG expansion
Table of contents
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Executive Summary
- The deal brings in the eighth international partner to NFE
- The agreement supports Taiwan’s nuclear phaseout and coal reduction ambitions
- Is another wave of North Field SPA deals incoming?
- We expect Qatar to continue its unstoppable LNG capacity expansion
- Even as Qatar LNG expansion costs rise, it remains one of the most competitive sources of LNG globally
Tables and charts
This report includes the following images and tables:
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NFE equity breakdown (%)Taiwan LNG demand, contracted supply and spot exposureQatar LNG production capacity by contracted status (sanctioned and announced projects)
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LNG supply outlook from top exportersLNG cost delivered to Tokyo BayPiped gas/LNG cost to Europe, with regas
What's included
This report contains:
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