QatarEnergy Buys 33 Spot LNG Cargoes from US Amid Hormuz Disruptions

QatarEnergy, the state-owned energy company of Qatar, has purchased 33 spot liquefied natural gas (LNG) cargoes from the US to offset disruptions in its exports through the Strait of Hormuz. This move is aimed at protecting its reputation as a reliable supplier and maintaining gas deliveries to key customers.

The company made these purchases following a force majeure declaration, with the 33 cargoes equivalent to one-third of QatarEnergy's monthly LNG exports before the conflict. These spot LNG cargoes are valued at around $1 billion.

Of the 33 cargoes purchased, 28 have already been delivered to customers in Asia, while five more are en route to South Korea, Taiwan, and India. The purchases were made from US LNG producer Venture Global and some of QatarEnergy's existing customers.