Qatar's biggest market for liquefied natural gas has traditionally been Asia, which takes about 80% of the Gulf country's total exports. But interest appears to be increasing for locking in new Qatari volumes in Europe.
South Korea, India, China and Japan rank as Asia's top importers of Qatari LNG, whereas in Europe, the UK and Italy take the lead, with Germany turning to LNG supplies from Qatar in search of alternatives to Russian imports.
With natural gas prices skyrocketing in Europe and Asia in 2021-22, Qatar plans to raise LNG export capacity at a time when it also faces growing competition from Australia and the US.
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