QatarEnergy is in talks to secure multi-year contracts for the purchase of US liquefied natural gas until 2031.
According to Report, this was reported by Reuters, citing sources.
According to the agency’s sources, negotiations are underway, in particular, with the US companies Venture Global and Cheniere, as well as the Australian firm Woodside.
QatarEnergy is attempting to make up for the shortfall from the Ras Laffan complex, where two of the 14 LNG production lines, as well as a gas processing plant, were damaged as a result of Iranian strikes in March.
Until now, the company has been purchasing dozens of consignments of US LNG on the spot market to meet its obligations to certain customers in Asia. The shift towards negotiations on multi-year contracts indicates a search for a more long-term solution to the supply shortfall.
QatarEnergy’s chief executive, Saad al-Kaabi, previously stated that the damage would take 12.8 million tonnes of annual LNG production capacity out of service for a period of three to five years.
According to one source, QatarEnergy Trading, the company’s trading division, intends to purchase 2–3 million tonnes of LNG per year until 2031. This division manages 10 million tonnes of LNG in the company’s portfolio.
