Qatar has profitably suspended LNG supplies through the Red Sea

Alexey Gromov, Principal Director on Energy studies of the Institute for Energy and Finance, commented to the Prime Economic Information Agency on the reasons for Qatar's suspension of LNG shipments to the EU countries.

Qatar has suspended some supplies of liquefied natural gas (LNG) to Europe via the Red Sea, not only because of the risk of shelling by the Yemeni Houthis, but also for economic reasons: the country wants to wait for an improvement in the price situation on the European gas market, Alexey Gromov said.

"Qatar takes the opportunity to declare force majeure on its LNG supplies to European countries, saying that there is a danger of Houthi attacks in the Red Sea area. But Qatar is not redirecting its exports, but is basically suspending them. There is a very big difference. Perhaps there is an economic reason, it is primarily due to the fact that the price situation in the European gas market today is not particularly profitable for suppliers to this market," he said.

"I think Qatar is indirectly trying to change the situation in its favor. If prices go up, then Qatari LNG will get to Europe in one way or another," Gromov added.