Qatar Turns to US as Conflict Cripples LNG Exports

Qatar's liquefied natural gas (LNG) exports have been severely impacted due to disruptions in trade routes amid the ongoing conflict. The country, which was once the world's biggest LNG exporter, is now in talks with the US to purchase LNG under long-term agreements.

According to Bloomberg, State-owned QatarEnergy is interested in supplies from existing and under-construction export projects. This marks a stunning reversal for the region, as Qatar was the world's largest LNG exporter before the war began in February.

The conflict has crippled Qatar's ability to export LNG, with exports down 96% since the war started. The country is losing nearly $24 billion in sales, and officials have said it may take up to five years to fully repair the damaged Ras Laffan LNG export plant, the world's largest.

The talks between Qatar and the US signal that the country is looking outside of the Middle East to expand its portfolio. This comes as the war appears to be heading into a long-drawn-out conflict, with Iran ready to escalate and US officials predicting it could last through 2029.