US Fills Qatar Gap in LNG Exports Amid War-Driven Shortage

The US is filling in for Qatar's liquefied natural gas (LNG) exports after the war between the US and Iran blocked Qatari supplies. In response, QatarEnergy, Qatar's LNG supplier, is discussing securing 2 million to 3 million tons of US LNG annually.

Qatar has decided to import US LNG due to difficulties in fulfilling contracts with long-term customers after its LNG production facilities were destroyed by the war. The damage amounts to 12.8 million tons, or 17% of total capacity, and repairs are expected to take three to five years.

In the first half of this year, US LNG exports increased 23% from the same period last year. Exports destined for Asia reached a record high of 10.9 million tons in the second quarter.

Korea is also cutting imports of Qatari LNG and increasing purchases from the US. From January to August, the share of LNG imports by country was Australia (28.3%), Malaysia (17%), the US (15.1%), and Qatar (5.8%).