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World's Top LNG Exporter Signs 20-Year Deal to Buy US Gas
The agreement expands QatarEnergy’s U.S. supply base as it extends force majeure on its own shipments after an Iranian strike cut capacity.
- On Thursday, QatarEnergy signed a 20-year agreement to purchase up to 3 million tonnes of LNG annually from Woodside Energy's Louisiana LNG project near Lake Charles, with first deliveries expected in 2030.
- Qatar is expanding its supply portfolio to hedge against disruptions in the Strait of Hormuz, following an Iranian strike on Ras Laffan that knocked out about 17 per cent of its LNG capacity.
- Chief Executive Officer Saad Sherida Al-Kaabi said the move supports the company's "long-term growth and diversification strategy," while Westcott, Woodside's chief executive, called the agreement "a strong vote of confidence in Louisiana LNG."
- QatarEnergy continues extending force majeure on shipments to the end of December, affecting buyers including Italy's Edison, Pakistan, and Bangladesh, while Petrobangla reported purchasing spot cargoes at "a significant cost."
- Shortfalls have pushed the European TTF gas benchmark above €95 this week, close to its highest level since December 2022, as Chief Executive Officer Saad Sherida Al-Kaabi expects to sign more deals targeting volumes "much higher" than 7 million tonnes.
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Today, Thursday, Qatar Energy signed a long-term agreement with Woodside Energy to purchase 3 million tons of liquefied natural gas annually from the Louisiana Natural Gas Project, which is currently being established on the American Gulf coast.
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Coverage Details
Total News Sources25
Leaning Left2Leaning Right2Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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