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Qatar seeks to open new LNG markets with floating terminals

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LNG Industry,

According to the latest Reuters report, Qatar Gas Transport Company and Norwegian shipping business Hoegh LNG have embarked on a joint project to open new markets for Qatar to sell its LNG via floating import terminals.

Hoegh LNG, a developer of FLNG import terminals, expects to start work on the import terminal project in a matter of months.

Hoegh LNG and Qatar Gas Transport Company are evaluating countries in which they could establish a floating terminal, naming South America and south-east Asia as attractive prospects.

With large supply deals with Japan expiring early in the next decade, Qatar will need to stimulate fresh demand for its LNG.

The country's LNG producers Qatargas and Rasgas are not directly involved in the deal.

FLNG terminals have shaved years off the time needed for new customers to access supply and are also cheaper than traditional land-based facilities.

A near 70% drop in spot LNG prices since February 2014, owing to falling Asian demand, is attracting poorer countries that had previously been excluded from gas trading.

A total of 40 floating import terminal projects exist in varying stages of development across the globe. Hoegh LNG operates seven and has a further three on order from shipyards.

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