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Qatar Looks to Secure Long-Term LNG Deals
Qatar is currently seeking to establish long-term agreements with American suppliers for liquefied natural gas (LNG), in an effort to bolster its gas supplies rather than rely on its traditional exports, which have been impacted by disruptions in the Strait of Hormuz and its withdrawal from the market due to the war between the United States and Iran. This move comes after approximately one-fifth of the world's LNG supplies were halted due to the closure of the Strait and wartime tensions, forcing Qatar to purchase gas shipments from the United States to compensate for the decline. Qatar is the third-largest producer of liquefied natural gas in the world and is aiming to expand its portfolio of contracts outside the Gulf, especially as the ongoing war and the deterioration of production at the Ras Laffan facility—due to damage caused by Iranian strikes—continue to affect its output.
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