Hormuz Crisis May Delay Qatar's Record-Breaking LNG Expansion
QatarEnergy's CEO Saad al-Kaabi warned that the ongoing crisis in the Strait of Hormuz may delay several liquefied natural gas (LNG) expansion projects, including the North Field East (NFE) project. The first train of the NFE project is expected to start production in the first half of 2027, but additional trains will depend on the resolution of the crisis.
The Strait of Hormuz disruption has prevented equipment needed for the expansion from reaching Qatar. The company is also dealing with damage caused by attacks on its Ras Laffan export hub, which wiped out 17% of Qatar's LNG capacity. Two LNG trains were damaged in the attack and will take three years to repair.
Despite the challenges, Kaabi said that Qatar would be able to resume normal gas operations within weeks once the Strait of Hormuz reopens. He also announced that QatarEnergy is expanding its trading business and aims to become 'the largest LNG trader in the world by far' in the near future.