Qatar Turns to US Gas as Hormuz Disruptions Reach $1 Billion

QatarEnergy significantly increased purchases of US liquefied natural gas this year due to exports from Qatar being disrupted during the conflict involving Iran. The state-owned producer acquired 33 spot LNG cargoes for delivery to customers across South Korea, Japan, Taiwan, India, and Bangladesh after the closure of the Strait of Hormuz interrupted shipments from Qatar.

The emergency purchases were valued at roughly $1 billion, representing a sharp increase from the four spot cargoes the company purchased during the previous year. Much of the replacement supply came from the United States, reflecting the country's growing role as the world's largest LNG exporter.

The purchases illustrate how the global LNG market has become increasingly interconnected. As new export capacity has come online along the US Gulf Coast, American producers have played an expanding role in offsetting supply disruptions caused by geopolitical events.