QatarEnergy Buys Record Number of US LNG Cargoes Amid War-Induced Supply Crunch

QatarEnergy has significantly increased its spot market purchases of liquefied natural gas (LNG) from the United States, buying up to 33 cargoes so far this year. This is a stark contrast to last year, when it acquired only four U.S. LNG cargoes on the spot market.

The move is aimed at mitigating the impact of QatarEnergy's own stranded supply caused by the ongoing Iran war. The company's domestic production and exports have been constrained by damage to its facilities from Iranian missile attacks and the closure of the Strait of Hormuz.

The U.S. LNG cargoes were purchased directly from producer and exporter Venture Global, with 28 of the 33 cargoes already delivered to key Asian buyers such as Japan, South Korea, India, Bangladesh, and Taiwan. The remaining five cargoes are currently in transit to these countries.