Daily Energy Report
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Chart of the Day: Why No LNG Shipments in the Red Sea?
Summary
Figure (1) shows Qatar's LNG shipments to Europe via the Suez Canal and around Africa. The first observation is that Qatar lost market share in Europe to the US and Russia. The second observation is that Qatar shifted its shipments completely from the Red Sea to the route around Africa. This raises questions since Qatar has no problems with the Houthis. Russia exports its oil through the Red Sea but sends its LNG carriers to Asia around Africa. Why?