Industry Focus: COVID-19 stokes competition for Europe’s LNG market

The level of competition in the global LNG market is rising as major producers look to increase their shares in a market severely weakened by the COVID-19 pandemic. One such producer is Russia, which aims to become a leading player in the global LNG market by increasing domestic LNG production and exports. However, Qatar, the U.S. and Australia will give Russia a “run for its money” as LNG exporters claw back from depressed demand levels through the first half of the year. Russia marks record exports in 2020. Russia has achieved progress in this direction during 2020, as reflected by a nearly 12% increase in its LNG exports in the first half of the year, compared to January–June 2019. This