By
12 min ago 3 min read
QatarEnergy is looking to replace liquefied natural gas (LNG) capacity lost due to Iranian attacks with long-term US deals.
The shift to multi-year contracts through to 2031 from spot cargoes marks a change in strategy from the state-owned company.
According to industry and trading insiders, QatarEnergy is in talks with firms including Woodside, Cheniere and Venture Global as it seeks to offset the production losses, reported Reuters.
The move follows missile attacks on Ras Laffan Industrial City in March, which caused substantial damage to the complex, including a gas-to-liquids plant and two of its 14 LNG trains.
Read more:
QatarEnergy CEO Saad al-Kaabi said in March that the repairs would sideline 12.8 million tonnes per year (mtpa) of LNG capacity for three to five years.
The company’s trading division is reportedly targeting an additional two to three mtpa of LNG. Production remains suspended, with declarations being extended on a monthly basis.
The US currently has around 25 mtpa of available LNG capacity, according to energy consultancy Rapidan Energy Group. Venture Global accounts for around 10 mtpa of uncontracted capacity, while Cheniere and Woodside each offer around 6 mtpa. Sempra’s Port Arthur project has a further 3 mtpa available.
Disruptions to LNG shipments through the Strait of Hormuz cut off around 20% of global LNG supplies, mostly from Qatar.
The disruption has increased competition for spot cargoes, particularly among Asian buyers, which take around 80% of Qatar’s LNG supplies.
US LNG exports increased by 23% year-on-year in the first six months of 2026, averaging 17.4 billion cubic feet per day (Bcf/d).
According to the US Energy Information Administration, export capacity additions from new terminals and expansions at existing facilities boosted US LNG exports at their fastest rate since large-scale exports began in 2016.
US LNG shipments to Asia more than doubled during the first half of 2026, increasing by 2.3 Bcf/d, or 108%, compared with the same period in 2025. Exports to Europe increased by 1% over the same period.
The disruption has also pushed global LNG prices higher. The Japan-Korea Marker, a key benchmark for Asian LNG prices, averaged $15.56 per million British thermal units in the first half of 2026, its highest level since 2022.
