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The Qatari liquefied natural gas carrier is currently heading north across the Red Sea toward Europe, in a rare voyage that accelerates gas supplies at a time when the European market is facing a severe crisis due to soaring gas prices—the highest in four years—and dwindling inventories ahead of winter. This journey traces back to Qatar's efforts to compensate for the impact of terrorist attacks on Ras Laffan facilities in March, which exacerbated gas supply disruptions and led to about 17% of its production being halted. Qatar is relying on new strategies, including the use of older tankers to pass through the Strait of Hormuz, amid security risks to navigation. Meanwhile, pressures on European gas supplies are intensifying as inventories have fallen to the lowest levels in over a decade, with prices expected to rise as temperatures drop.
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