February 18, 2020
By IFCMarkets
Qatar postponed the construction of new LNG terminals
Earlier, Qatar Petroleum, a state-owned company of Qatar, planned to start expanding liquefied natural gas terminals by 60% in 2020, and by 2027 to 126 million tons per year. The cost of the project was estimated at approximately $60 billion. Its implementation has been postponed because of the decline in world gas prices amid the coronavirus infection in China. Amid this, LNG exports from the US are rising. In 2018, it increased by 53%, and in 2019 – by 68%. In 2020, an increase of another 33% is projected. A cold snap is expected in the US at the end of February, which may increase short-term demand for gas for heating.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Buy | |
| MACD | Buy | |
| Bollinger Bands | Buy | |
| Fractals | Buy | |
| MA(200) | Neutral | |
| Parabolic SAR | Buy |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 1,91 |
| Stop loss | Below 1,75 |
Market Analysis provided by IFCMarkets
