QatarEnergy is in advanced discussions with Venture Global to secure a long-term supply agreement for at least 3 million metric tons of liquefied natural gas (LNG) annually. This potential deal comes as QatarEnergy has been purchasing LNG on the spot market from Venture Global to fulfill customer demands amid the ongoing blockage of the Strait of Hormuz, exacerbated by the US-Israeli conflict with Iran and Tehran’s retaliatory strikes this year.
The timeline and duration of any agreement between the two companies remain unclear, as neither QatarEnergy nor Venture Global immediately responded to requests for comment. Venture Global, currently the US supplier with the most uncommitted LNG capacity, is poised to become the second-largest exporter in the country once its CP2 plant under construction in Louisiana begins operations.
This agreement, if finalized, would mark the second major long-term deal QatarEnergy has signed with a US exporter this year. On Thursday, Cheniere, the largest US LNG exporter, announced a long-term deal to supply QatarEnergy with 4 million metric tons per annum from 2031 to 2054, with supplies split between its Sabine Pass facility in Louisiana and Corpus Christi terminal in Texas.