Qatar turns to US for long-term LNG supplies

Qatar is negotiating long-term liquefied natural gas (LNG) purchase deals with US suppliers as the war in Iran disrupts its gas exports and threatens its supply security, Bloomberg reported, citing people familiar with the matter.

Qatar is considering buying LNG from US projects that are already operating as well as facilities still under construction, according to the report.

The move marks the first time since the conflict began that Doha has explored sourcing LNG from outside West Asia on a long-term basis.

Qatar previously accounted for around 20 percent of global LNG exports, but its shipments have nearly halted as risks to gas carriers navigating the Strait of Hormuz have increased.

Before the war began in late February, Qatar planned to nearly double production at its Ras Laffan LNG facility by 2030. The facility sustained extensive damage during the conflict, with Iran blamed for the attack.

Full repairs are expected to take three to five years, while there are no immediate signs of an end to the conflict between Iran and Qatar.

Qatar is also an investor in the Golden Pass LNG terminal in Texas, which began operations in April and is gradually increasing output. Its trading arm has meanwhile expanded its capacity to trade and transport US LNG, mainly through short-term deals.