QatarEnergy Buys Louisiana LNG Amid Blockaded Persian Gulf

QatarEnergy's Ras Laffan energy complex was severely damaged by Iranian drone and missile strikes, prompting the company to invoke 'force majeure' clauses in its long-term contracts with Asian customers.

The damage choked off the Strait of Hormuz, traditionally a key supply route for Qatar's natural gas exports to Asia. As a result, QatarEnergy spent around $1 billion to buy liquefied natural gas (LNG) from one of its American competitors, Venture Global, to fulfill these contracts.

The majority of this LNG was loaded at Louisiana export facilities and destined for Japan, South Korea, India, Bangladesh, and Taiwan. In total, 28 out of 33 spot LNG cargoes purchased by QatarEnergy were shipped from Louisiana this year.