QatarEnergy Seeks US LNG Deals Through 2031 Amid Iranian Attack Fallout
QatarEnergy is seeking long-term liquefied natural gas (LNG) contracts from US producers, including Venture Global, Cheniere, and Woodside, to replace capacity lost due to Iranian attacks on its Ras Laffan facility. The damage will take years to repair, sidelining 12.8 million tons of LNG capacity per year for three to five years, according to CEO Saad al-Kaabi in March.
The company is looking for 2-3 million metric tons per annum through 2031, and trading arm QatarEnergy Trading will have to buy whatever it can get its hands on, a fourth source said. US projects under construction have a total of 25 million metric tons of LNG available for purchase.
This marks a shift from QatarEnergy's previous purchases of spot LNG cargoes to meet commitments to Asian clients. The company has halted production and renewed force majeure notices monthly, most recently extending them to November, with further extensions possible as the Strait of Hormuz remains closed.