Qatar Turns to US LNG as Iran War Disrupts Supplies
Qatar is seeking to diversify its liquefied natural gas (LNG) supplies due to disruptions caused by the Iran war. The country's state-owned energy company, QatarEnergy, has entered into discussions with US suppliers for long-term agreements.
The talks involve existing and under-construction export projects in the US, highlighting Qatar's need to find alternative sources of gas to meet its customers' demands. Before the war, Qatar supplied around a fifth of the world's LNG, but its shipments have significantly decreased due to risks associated with transporting gas tankers through the Strait of Hormuz.
The Ras Laffan LNG export plant, the world's largest facility, was damaged by an Iranian strike and may take 3-5 years to fully repair. The war's ongoing nature, which could last until 2029 according to a Wall Street Journal report, has forced Qatar to focus on trading.
Qatar already has access to some US supply through its ownership of the Golden Pass LNG plant in Texas and its increasing capabilities to ship fuel from the US with its QatarEnergy trading unit.