QatarEnergy buys 33 US LNG cargoes to offset Hormuz shutdown

QatarEnergy has purchased 33 spot liquefied natural gas cargoes from the United States this year for delivery to Asian customers after the Iran war shut down Qatari gas exports through the Strait of Hormuz, according to an exclusive Reuters report citing four trade and industry sources.reuters

The purchases, valued at approximately $1 billion, were destined for South Korea, Taiwan, Bangladesh, India, and Japan as QatarEnergy sought to protect its reputation as one of the world's most reliable gas suppliers despite having declared force majeure on its LNG shipments. The 33 cargoes represent roughly one-third of QatarEnergy's monthly export volume before the conflict — and dwarf the four spot cargoes the company purchased last year.aa+1

Protecting Long-Term Relationships

About 80% of Qatar's LNG shipments are typically exported to buyers in Asia, and one source described the purchases as "a gesture of good faith" toward key customers. Another source said QatarEnergy wanted to demonstrate it valued its buyers and was making every effort to maintain supplies despite the disruption caused by Iran's closure of the waterway, which bottled up 20% of global oil and gas supplies.arise+1

QatarEnergy bought the cargoes directly from US producer Venture Global ↗ 2.11% LNG and also acquired shipments from some of Venture Global's customers, the sources said. Both QatarEnergy and Venture Global declined to comment.reuters

Of the 33 cargoes, 28 have already been delivered, with the remaining five en route to South Korea, Taiwan, and India, according to data analytics firm Kpler.aa+1

Signs of Easing at Hormuz

The purchases come as early signs of a possible easing in the shipping disruption have emerged. An LNG carrier controlled by QatarEnergy, the "Al Areesh," departed the Strait of Hormuz during the night of July 29 — the first Qatari LNG vessel detected leaving the waterway since July 11, according to shipping data cited by Futunn. The vessel is heading to Port Qasim near Karachi, Pakistan, with an expected arrival on July 31.news.futunn

The United States has become the world's largest LNG exporter in recent years, with producers benefiting from demand for alternative supplies during both the Iran war and following Russia's invasion of Ukraine. Qatar's emergency procurement underscores how the conflict is reshaping global energy trade flows, with US exporters emerging as suppliers of last resort for disrupted Gulf producers.reuters