Qatar’s US LNG Bet Signals a New Energy Order
Turning to your biggest rival is rarely a sign of confidence. Yet Qatar's decision to sign long-term contracts for US supplies suggests the world's second-largest LNG exporter is increasingly concerned that instability in the…
LONDON, Nov 3 (Reuters) – Turning to your biggest rival is rarely a sign of confidence. Yet Qatar’s decision to sign long-term contracts for US supplies suggests the world’s second-largest LNG exporter is increasingly concerned that instability in the Gulf could undermine its ambitious expansion plans.
QatarEnergy last week signed a 20-year agreement to buy 3 million metric tons per year (mtpa) of liquefied natural gas from Woodside Energy’s facilities in Louisiana. A week earlier, it signed agreements with Cheniere Energy for up to 4 mtpa from its Sabine Pass and Corpus Christi plants through 2054.
Deliveries under the contracts begin in 2030 and 2031 and will make Qatar the largest buyer of US LNG.
QatarEnergy CEO Saad al-Kaabi told Reuters last week that he expects to sign additional supply agreements with US and other producers this year, potentially locking in millions of tons of overseas LNG for decades to come.
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