​Ukraine crisis is a gas opportunity for Qatar, a diplomatic challenge for the UAE and a spur for OPEC+ tapering

GULF COUNTRIES - Report 22 Feb 2022 by Justin Alexander

* OPEC+ is more likely to boost volumes, particularly in May, when higher baselines come into effect for UAE, Saudi and Kuwait.
* Qatar has a huge opportunity to sign long-term LNG contracts on beneficial terms. Its North Field expansion will deliver more gas than Nord Stream 2.
* The UAE faces a difficult diplomatic challenge as a UN Security Council member, given its good relations with Russia.
* All the Gulf states are likely to prefer a neutral position, although if they have to take a side they will stick with Europe and the US.
* We provide a backgrounder on GCC-Russia relations.

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