IEA chief demands: EU should replace Russian LNG with Qatari LNG

Since the beginning of the Russian invasion of Ukraine, the EU has been trying to become independent of energy from Russia . It even wants to completely do without fossil fuels from Russia by 2027. US President Donald Trump is taking advantage of this and wants to build new export terminals for liquefied natural gas (LNG) and supply Europe even more. According to a report in the British Financial Times (FT), Trump could even double export capacity in the next five years, thereby giving the US economy a boost of around 1.3 trillion dollars.

But Europe apparently has other options. "European countries should consider replacing liquefied natural gas imports from Russia with other sources from 2027," said International Energy Agency Director Fatih Birol on Tuesday . In his speech at the International Energy Week conference in London, Birol stressed that Europe has been able to boost its economy with cheap Russian gas. "Perhaps it is high time to replace this with LNG from Qatar and other sources from 2027."

The International Energy Agency (IEA) is an intergovernmental organization based in Paris that deals with global energy issues. It was founded in 1974 in the wake of the oil crisis and is part of the Organisation for Economic Co-operation and Development (OECD).

LNG price rose to 81 euros within a year

In 2024, EU countries have ramped up their LNG imports from Russia again. Analysts report that Russia's share of the EU's total liquefied natural gas imports is up to 20 percent. In 2023, it was just six percent at one point. A wave of new projects in Qatar, the USA and Norway are expected to provide fresh supply. The United States is already the EU's most important liquefied natural gas supplier (45 percent). The price of LNG on the stock exchange has risen compared to February 2024. From a purchase price of 3,000 liters of liquefied natural gas, around 75 to 81 euros per 100 liters are currently being traded. A year ago, this value was still around 60 to 65 euros.

The British oil giant Shell expects demand for liquefied natural gas to increase by around 60 percent by 2040. The company announced this on Tuesday at its press conference to present its annual report. The drivers are economic growth in Asia, the spread of energy-intensive artificial intelligence (AI) and efforts to reduce emissions in heavy industry and transport. "Updated forecasts show that the world will need more gas for power generation, heating and cooling, industry and transport to achieve development and decarbonization goals," explained Shell manager Tom Summers.

Shell: Qatar and USA will ship about 60 percent of LNG by 2035

A significant increase in LNG supply will come from the largest exporter, the USA , which could deliver 180 million tons per year by 2030, accounting for a third of global supply. The United States and Qatar are working together on their massive North Field expansion project in Qatar - completion planned by 2026. Analysts expect that around 60 percent of the world's LNG supply could be provided from here by 2035. The liquefied natural gas will be transported on special ships.

The first of a new wave of US LNG shipping was implemented across the Atlantic in December 2024. Deliveries were shipped directly to Germany from a new facility in Louisiana. According to data from the Bruegel think tank, US LNG exports have increased sharply since then. According to the BDEW (German Association of the Energy and Water Industries), 91 percent of German LNG imports came from the US in 2024. Several experts have already expressed concerns that Germany's heavy dependence on American LNG could increase further under Donald Trump .

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