LNG tanker in Ras Laffin, Qatar. Qatar is the leading MEA LNG supplier to Latin America. (PA)
Directional impact on forecast:
Bearish on Latin America’s spot LNG prices
Latin America has become an attractive destination for spot LNG shipments from suppliers in the Middle East and Africa (MEA) – led by Qatar – and the trend is expected to continue over the coming months. While the move has reinforced Qatar’s strength as a swing supplier of LNG, it has further intensified competition among America’s three regional exporters – the United States, Peru and Trinidad & Tobago. However, Latin America will not be a reliable customer for LNG in the longer term because the region’s demand for the fuel is in freefall.
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