LNG supply diversification

March strikes damaged two LNG production units at Ras Laffan, cutting Qatar's export capacity by roughly 17%. WoodMac estimates about $5.8 billion in repair costs and up to three years for full recovery. Iran lost roughly a third of its gas capacity. Last week's Gastech conference in Bangkok saw deals and projects valued around $60 billion as LNG buyers and sellers pursued diversification. Those included a China Gas deal with Venture Global for 0.5 million tonnes per annum from 2030, PTT's long-term Equinor supply contract, and a 35-year Malaysia-Thailand production-sharing agreement. Sue-Ern Tan of the IEA said, "A lot of governments are thinking not just diversification of the suppliers, but diversification of supply routes." Shell's Tom Summers said Middle East losses of 36 million tonnes left a net global supply loss of only about 5 million tonnes, or 1%-1.5% of global supply. Timor-Leste plans two greenfield LNG plants of 5 and 1.5 million tonnes per annum. CONTESTED: None identified.