What happened
QatarEnergy, the state-owned energy company of Qatar, is expected to become the largest buyer of American liquefied natural gas (LNG) within a decade. The company plans to control 23.7 million tons of US LNG per year by 2033, according to research firm Wood Mackenzie.
This increase in demand is largely due to the disruption of Qatar's own LNG exports caused by the Iran war. QatarEnergy has secured two long-term deals to purchase US LNG and has a 70% stake in the Golden Pass LNG export plant in Texas. The company will resell the gas to other countries, rather than using it domestically.
QatarEnergy's CEO, Saad Sherida al-Kaabi, stated that the deals are part of a trading plan to generate revenue in case shipping in the Strait of Hormuz is disrupted. The company has already stopped producing LNG due to Iranian missile strikes and has extended force majeure through the end of 2026.
The US has become a significant player in the global LNG market, with QatarEnergy aiming to purchase large volumes of American gas. The company has signed deals with Cheniere Energy and Woodside Energy, and is expected to strike more agreements in the future.
