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Qatar temporarily interrupted sending liquefied natural gas (LNG) tankers through the Bab al-Mandab Strait. Since Friday the 12th, at least five liquefied natural gas vessels operating in Qatar have been detained, according to ship tracking data collected Bloomberg.
After you head towards the strait Bab el-Mandebat the southern end of the Red Sea, three of the tankers stopped off the coastOmanone in the Red Sea and the other in the Mediterranean, near the Suez Canal.
Qatar is the second largest supplier to the EU after the United States
After the United States, Qatar is the largest supplier of liquefied natural gas to Europe. Exactly for Italy Eni concluded a series of agreements to permanently replace Russian gas until 2025, while it can count on relations with producer countries and increase gas flows from Algeria, Egypt, Mozambique, Congo and Qatar. There are now fears of a possible new price hike due to the stoppage of ships from the Middle Eastern country.
Gas prices are falling
Despite Qatar suspending supplies to the Red Sea, gas prices are falling: at 15:10 on the Amsterdam TTF, gas lost 6.7% to 29,850 euros. According to strategists from Mps the downward movement in European gas is due to “expectations of rising temperatures next week in both Europe and the US, against a backdrop of inventories that remain high.”
Rodolfo Giampieri (Assoporti): if it doesn’t take too long
“AND excessive duration This situation in the Red Sea, although there seems to be slight signs of a return to pseudo-normality, is affecting the price on the shelves”. President Assoporti said, Rodolfo Giampieri, while discussing the milleproroghe decree before the House’s Joint Constitutional Law and Budget Committees. Prices, «at this stage are not yet affected by speculation and inflation has not yet been affected, but it is clear that duration may have an effect if ships have to undertake longer weekly voyages and kerosene it has already increased by 3%,” he concluded. (All rights reserved)