LNG plants outside Persian Gulf compensate just two-thirds of shortfall

MOSCOW, October 16. /TASS/. New LNG capacity outside the Persian Gulf has compensated for only two-thirds of the lost Qatari and UAE volumes, Advisor to the Russian President Anton Kobyakov said at a press conference during the Russian Energy Week forum. "Before the conflict of the US and Israel with Iran, nearly 20% of global LNG supplies passed through the Strait of Hormuz. Yes, new capacities outside the Gulf are somewhat mitigating the problem today; between March and June, they compensated for approximately two-thirds of the lost Qatari and UAE volumes," he said. "But not entirely. Although everyone understands that the beneficiaries of this situation are, to a large extent, American companies, operators and builders of new and expanding pipelines," he added.