Check out Qatar’s and Australia’s and America’s LNG export numbers. And keep in mind Qatar and America both plan to double their output by 2030. So an OPEC for LNG already exists.
Check out Qatar’s and Australia’s and America’s LNG export numbers. And keep in mind Qatar and America both plan to double their output by 2030. So an OPEC for LNG already exists.
It doesn't yet exist since Qatar and Australia aren't coordinating their activities on the market as far as I'm aware, and being US allies, they're also unlikely to coordinate such with their Russian and Iranian competitors.
Keep in mind OPEC exists because of how easily transportable oil is…shipping oil only adds a few dollars to the price of a barrel of oil. The problem with LNG from a cartel perspective is that every continent will have more than enough gas through pipes and then LNG might never develop a global spot market. So LNG might just be for a harsh winter once Europe sorts everything out. And China is developing huge natural gas storage capacity and they have huge hydro capacity…and so China will buy natural gas in April and not in the northern hemisphere fall when it would be most expensive in a global spot market. America’s Big Oil wants to develop a spot market which is what the “LNG export pause” that’s been in the news is really about…Democrats don’t want a global spot market because it could only harm American consumers after 2030. So right now LNG involves diplomacy and huge infrastructure investments at both ends and long term contracts.
Tillerson is pretty much a member of the Qatari royal family because of how much XOM has invested into Qatar. And Qatar is investing billions in American LNG export infrastructure:
“These plans would run in parallel with, but were likely to be finished significantly sooner than, the plans for Qatar to also make available to Germany sizeable supplies of LNG from the Golden Pass terminal on the Gulf Coast of Texas. QatarEnergy holds a 70 percent stake in the project, with the U.S.'s ExxonMobil holding the remainder.”
Check out Qatar’s and Australia’s and America’s LNG export numbers. And keep in mind Qatar and America both plan to double their output by 2030. So an OPEC for LNG already exists.
It doesn't yet exist since Qatar and Australia aren't coordinating their activities on the market as far as I'm aware, and being US allies, they're also unlikely to coordinate such with their Russian and Iranian competitors.
Keep in mind OPEC exists because of how easily transportable oil is…shipping oil only adds a few dollars to the price of a barrel of oil. The problem with LNG from a cartel perspective is that every continent will have more than enough gas through pipes and then LNG might never develop a global spot market. So LNG might just be for a harsh winter once Europe sorts everything out. And China is developing huge natural gas storage capacity and they have huge hydro capacity…and so China will buy natural gas in April and not in the northern hemisphere fall when it would be most expensive in a global spot market. America’s Big Oil wants to develop a spot market which is what the “LNG export pause” that’s been in the news is really about…Democrats don’t want a global spot market because it could only harm American consumers after 2030. So right now LNG involves diplomacy and huge infrastructure investments at both ends and long term contracts.
Tillerson is pretty much a member of the Qatari royal family because of how much XOM has invested into Qatar. And Qatar is investing billions in American LNG export infrastructure:
“These plans would run in parallel with, but were likely to be finished significantly sooner than, the plans for Qatar to also make available to Germany sizeable supplies of LNG from the Golden Pass terminal on the Gulf Coast of Texas. QatarEnergy holds a 70 percent stake in the project, with the U.S.'s ExxonMobil holding the remainder.”