Qatar agrees to buy U.S. LNG to 2054 as war disrupts supply
QatarEnergy will source half the supply from Louisiana and Texas plants, with 1 million tons tied to a final investment decision on Sabine Pass expansion.
- On Thursday, QatarEnergy signed two long-term agreements to purchase 4 million tons of LNG annually from Cheniere Energy through 2054, with deliveries from facilities in Louisiana and Texas beginning in the early 2030s.
- The agreement follows significant disruptions to Qatar's LNG exports from damage at the Ras Laffan facility and turmoil in the Strait of Hormuz, as the International Monetary Fund forecasts the Gulf state's economy will contract 15.6% in 2026.
- Under the agreements, QatarEnergy will purchase 2 million tons annually from each of Cheniere's Sabine Pass and Corpus Christi plants, with pricing indexed to the Henry Hub benchmark plus a fixed fee on a free-on-board basis.
- One million tons from the Sabine Pass agreement remains contingent on a final investment decision for the terminal's expansion, while Cheniere Energy Chairman, President and Chief Executive Officer Jack Fusco called the deal a 'major long-term commercial commitment.'
- Beyond these agreements, QatarEnergy maintains a majority stake in the Golden Pass LNG export plant in Texas, where ExxonMobil Holdings Corp. is also a shareholder in the project currently starting up.
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Qatar, one of the world's largest liquefied natural gas (LNG) exporters prior to the Iran war, concluded a long-term agreement for gas procurement in the United States, after Iran's attacks on its energy infrastructure and blockade of the Ormuz Straits drastically reduced its exports, reports CNBC.
Qatar signs a historic deal to import 4 million tons of American LNG annually trough 2054
Qatar was the biggest exporter of LNG in the Middle East and in top three in the world.QatarEnergy announced Thursday that it signed two long-term agreements with US energy company Cheniere to purchase up to 4 million tons of liquefied natural gas...
Qatar Energy locks in US LNG supply from Cheniere as Hormuz disruption drags on
Qatar Energy has signed a significant liquefied natural gas agreement with Cheniere Energy to purchase 4 million metric tons annually. The deal ensures supply flexibility as tensions in the Strait of Hormuz could affect exports. Two million metric tons per year will come from Cheniere's Sabine Pass facility, while the remaining will be sourced from Corpus Christi.
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