QatarEnergy Turns to US LNG Amid Strait of Hormuz Disruptions

QatarEnergy (QE) has been buying US liquefied natural gas (LNG) to meet its Asian supply commitments, according to four trade and industry sources. The purchases total 33 spot LNG cargoes this year for delivery to South Korea, Taiwan, Bangladesh, India, and Japan.

The move comes after QE declared force majeure on its LNG shipments due to the Iran war, which halted Qatari gas exports through the Strait of Hormuz. This disruption affected 20% of global oil and gas supplies from major producers that export from terminals around the Gulf.

QE bought the cargoes directly from US producer Venture Global LNG as well as picking up cargoes from some of Venture Global's customers. The purchases amount to a third of a month's exports from QE before the conflict and are worth approximately $1 billion.