Qatar Turns to US Gas Amid Hormuz Disruptions

Qatar's state-owned energy producer, QatarEnergy, significantly increased its purchases of US liquefied natural gas (LNG) this year due to disruptions in exports from Qatar caused by the conflict involving Iran. The company acquired 33 spot LNG cargoes for delivery to customers in South Korea, Japan, Taiwan, India, and Bangladesh after the closure of the Strait of Hormuz interrupted shipments.

The emergency purchases were valued at around $1 billion, a sharp increase from the four spot cargoes QatarEnergy purchased during the previous year. The company sought to maintain supplies to long-term customers while operating under force majeure following the disruption to Gulf shipping.

The majority of the replacement supply came from the US, reflecting the country's growing role as the world's largest LNG exporter. The cargoes were sourced directly from Venture Global LNG and some of its existing customers. Shipping data compiled by Kpler indicates that 28 of the 33 cargoes have already reached their destinations.