Qatar curtails budget by 30% as LNG revenues collapse
The Qatari government has ordered ministries to cut their budgets by up to 30% and slash overseas aid after LNG revenues collapsed. The 2026 state budget had been set at $61 billion at the start of the year, but since then, Qatar’s LNG-dependent economy has been hit hard by war-related damage to its Ras Laffan LNG hub and persistent shipping disruptions in the Strait of Hormuz.
New US tariffs on Canadian imports could raise LNG project costs
The collapse of US-Canada trade negotiations, followed by new US tariffs of up to 50% on a range of Canadian imports, could raise construction costs and make new Canadian LNG export projects harder to finance.
Collapse of China’s LNG offtakes puts markets in disarray
China’s LNG demand collapse – along with strategic stockpiling of oil – have put trade flows and price dynamics in disarray. Imports plunged 20% in the first half of 2025, making Asian spot LNG prices fall from a peak of $16.50 per MMBtu in February to currently around $11.34 per MMBtu.
Santos shaken as Abu Dhabi’s XRG walks from $30bn deal
Santos has been jolted by a setback as Abu-Dhabi’s state-backed XRG walked away from $30 billion tie-up. The breakdown shatters Santos’ expectations to secure capital for expansion projects in Australia and Papua New Guinea.
