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Jun 20, 2017

June 5, many countries announced the severance of Qatar, this last week's largest black swan event continued fermentation, has the highest per capita GDP for the country brought the aviation, transport, banking and other aspects of the confusion, however, Qatar As the world's largest natural gas exporting countries, but also to the future of global green energy confusing.

As a member of the Organization of Petroleum Exporting Countries (OPEC), Qatar is not actually a major oil producer. Its oil production accounts for about 2% of OPEC's total output. However, Qatar's natural gas reserves are extremely rich, accounting for 13.1% of the world's reserves, second only to Russia and Iran ranked third in the world. In recent years, has become the world's largest exporter of liquefied natural gas, accounting for more than 30% of the global market share.

Big customer Japan's danger Several Japanese companies require natural gas prices

Qatar's natural gas exports are mainly sold through liquefied natural gas carriers around the world, with its major customers in Asia, of which about 15% of Japan's natural gas is purchased from Qatar and is the largest customer of Qatar's natural gas exports. According to the International LNG import group data, Japan imported Qatari liquefied natural gas last year reached 12.1 million tons.

However, since Qatar was the Gulf countries "pull black", the Japanese company asked Qatar natural gas price cuts, and concessions in the procurement contract.

At present, Japan's largest natural gas buying company - Jera and Tokyo Gas have not yet decided whether to sign a new contract with Qatar to replace the 2021-year contract. Both companies require Qatar to cut prices on natural gas, but also requires more flexible procurement contracts.

It is understood that Japanese companies are dissatisfied with the natural gas procurement contract, in December last year, Jera company head Hendrik Gordenker had said to allow buyers more flexibility to resell natural gas will make natural gas sellers will benefit, because it will make the market more Efficiency while stimulating demand.

Japanese companies put forward the "price" requirement is just in Qatar and the Gulf after the severance of the country, can not help but doubt people take the danger. But the analysis that the more important reason is that the global gas supply surplus, such as some time ago the US President Trump propaganda out of the Paris agreement will lead directly to the US natural gas market demand reduction, which led to the supply of natural gas supply rights are weakened. So that the Japanese companies related to natural gas buyers can be drilled, in fact, but "big bully shop."

It is understood that many of the Japanese companies in Qatar are related to local energy companies. At the same time, because Qatar is the host country of the World Cup in 2022, in the ongoing infrastructure projects, there are many Japanese construction companies are also closely watching the storm.

Daisuke Yonekura, Acting Director of the Middle East and Africa Division of the Japan External Trade Organization, said, "To some extent, travel to Qatar has become quite difficult, and unless the crisis comes ahead, Japanese companies active in Qatar will find it impossible to Production of essential materials transported to the local stationed branches.

Future natural gas output or more and more diversified

The Gulf region is the world's most important energy output, affecting the world's economic nerves, the diplomatic earthquake, although in the short term did not cause severe impact on the energy market, but the long term may affect the future of global energy supply, Some rely on energy imports of the market highly alert. This is also an important reason why Japanese companies require more flexible natural gas procurement contracts.

Therefore, the future of energy demand may gradually need to reduce dependence on a single output, at present, with the United States and Australia and other countries from the global supply of natural gas, the spot market is also expanding. I believe that, for now, the latest emergence of this diplomatic turmoil will not immediately on the natural gas consumption needs of the country have any impact. In addition, Russia as the world's largest natural gas exporter, may become the biggest beneficiary.