Economy · 5 d ago
Matthew Smith @ Flickr · CC BY 2.0 · Wikimedia Commons
QatarEnergy buys US LNG to hedge against Hormuz disruption
US LNG bought in two weeks
7 million tonnes a year
A 20-year deal with Woodside covers 3 million tonnes a year, and two Cheniere agreements cover up to 4 million more, all in two weeks.
Chief executive Saad Sherida Al-Kaabi said that if the strait closes, gas prices would spike and the purchases would earn revenue the company would otherwise lose. "There's more to come," he said.
What we know
- Output halted since early March
- Two of 14 LNG trains damaged
- Repairs to take about three years
Not yet
- Whether a US-Iran peace deal comes
Qatar halted LNG output in early March after Iranian missile attacks and has extended force majeure to the end of 2026.
