Expansion of The Qatar Gas Market, Savior of the European Energy Crisis

Responding to the western sanctions on Russia for invading Ukraine, Qatar and Germany have agreed to an LNG (Liquified Natural Gas) supply agreement for a long period of 15 years which will start in 2026. LNG is natural gas that has been converted into a liquid. This is done to save space, because 610 cubic feet of natural gas can be converted into 1 cubic foot of LNG. Converting natural gas to LNG makes it easier to store and easier to transport when pipelines are not available. The refrigeration process is used to condense natural gas into LNG by cooling it to minus 260 degrees Fahrenheit. This cooling process is usually accompanied by a process of removing water, carbon dioxide, hydrogen sulfide and other impurities (Setiadi, 2017). Natural gas is an important part of the solution in the energy transition, especially as the world strives to eliminate energy-poverty. Energy demand growth over the next few decades will be substantial, and LNG supplies will be essential to meeting this demand.