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Qatar's LNG production halt impacts global supply, Morgan Stanley: 2026 natural gas surplus may be 'erased'
Morgan Stanley warned that this shutdown will eliminate most of the expected supply surplus for 2026. If the shutdown lasts more than a month, the market will shift into a deficit, potentially driving LNG prices above $30 per million British thermal units. The firm also postponed its forecast for the first cargo from Qatar's North Field expansion project to the first quarter of 2027, further reducing this year's supply projection by approximately one million tons.
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