Diplomatic Spat in the Middle East Has East Asia Worried

Is the Diplomatic spat of major Arab countries with Qatar spreading to East Asia? Most main customers of Qatari liquefied natural gas concentrated in Asia. If the geopolitical problem in the Middle East continues for a long time, there is a possibility of LNG prices to go up.

On June 5, the eight Middle Eastern and North African countries including Saudi Arabia, Bahrain, and the United Arab Emirates declared that they would sever ties with Qatar over support for terrorist organizations.

The total volume of LNG exported by Qatar last year was 77.2 million tons, accounting for a third of the world’s supply. Of this, the share exported to Asia is 65.3 percent. In Asia, Taiwan and India rely more than 50 percent of LNG on Qatar. As for China, it’s LNG import from Qatar is second in the world after Saudi Arabia. Korea imports 37 percent of its LNG from Qatar. Japan, the world’s largest LNG importer, relies on 15 percent of its imports on Qatar.

The Original Posted by why@hankyung.com/

http://www.ekomeri.com/diplomatic-spat-middle-east-east-asia-worried/