Qatar, facing disruptions in liquefied natural gas (LNG) exports through the Strait of Hormuz due to the Iran conflict, has significantly increased its purchases of U.S. LNG to maintain supply to its Asian customers.
According to Reuters on July 30, Qatar's state-owned energy company QatarEnergy has acquired 33 cargoes of U.S. LNG this year. These cargoes will be supplied to South Korea, Taiwan, Bangladesh, India, and Japan.
Last year, QatarEnergy purchased only four cargoes of U.S. LNG. The surge in purchases this year is attributed to Iran's blockade of shipping traffic in the Strait of Hormuz, which has also affected Qatar's LNG exports.
Following the blockade, QatarEnergy declared force majeure on LNG shipments. While this declaration can relieve the company of contractual supply obligations, QatarEnergy has sought to secure alternative supplies to minimize gaps for its major customers.
According to Reuters calculations, the 33 cargoes represent about one-third of QatarEnergy's monthly LNG export volume prior to the conflict. The total purchase amount is estimated at around $1 billion.
One source described this purchase as a 'goodwill gesture' from QatarEnergy to its key customers. Another source noted that QatarEnergy is demonstrating its commitment to its customers and its efforts to maintain supply.
QatarEnergy has directly purchased the LNG from U.S. producer Venture Global and has also secured some volumes from Venture Global's customers.
Data analysis firm Kpler reported that 28 of the 33 cargoes have already been delivered, while the remaining five are en route to South Korea, Taiwan, and India.
* This article has been translated by AI.
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