UK's Giant New LNG Tank Clears Way for More Qatari Supply [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — A project that will expand UK gas storage next year has been touted as a boon for Europe's energy security. It's also a substantial win for the small Gulf nation of Qatar. Some 37 miles east of London on the Isle of Grain, a giant cylinder is being constructed at Europe's largest liquefied natural gas terminal and will be ready to handle imports starting mid-2025. More capacity to stockpile fuel is welcome news for a region that is once again struggling with gas price volatility. Article content Article content Qatar, meanwhile, has rushed to meet Europe's booming demand for LNG, set in motion by curbed pipeline flows from Russia. The Middle Eastern nation is setting itself up to control about a quarter of all LNG by the end of the decade, and needs reliable avenues to sell its large fossil fuel volumes at a time when many of its trade partners
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