QatarEnergy seeks US LNG deals through to 2031, sources say

QatarEnergy is negotiating multi‑year U.S. liquefied natural gas (LNG) contracts through 2031 with several American and international producers as it seeks to replace volumes lost after Iranian strikes damaged facilities at Ras Laffan, industry sources said. The talks involve Venture Global, Cheniere and Woodside and aim to secure 2–3 million metric tons per annum (mtpa) of supply for delivery through 2031, part of a move away from the dozens of U.S. spot cargoes QatarEnergy has purchased since production was halted in March.

"They will have to buy whatever they can get their hands on," one source close to the negotiations said, underlining the urgency of QatarEnergy Trading's effort to replace capacity knocked out by the attacks.

The damage to Qatar's infrastructure included two of 14 LNG trains and a gas‑to‑liquids (GTL) facility at Ras Laffan, and QatarEnergy chief executive Saad al‑Kaabi warned in March that repairs would sideline about 12.8 million tonnes per year of LNG capacity for an estimated three to five years. Having halted production in March, QatarEnergy has issued successive force majeure notices, most recently extending them to November amid continued disruption in the Strait of Hormuz.

Details of the U.S. supply picture

• QatarEnergy Trading, which managed roughly 10 mtpa of the company’s portfolio, is seeking around 2–3 mtpa through to 2031.
• U.S. projects currently under construction have about 25 mtpa available for purchase, according to Rapidan Energy data.
• Venture Global reportedly has the largest uncontracted volume at about 10 mtpa, with Cheniere and Woodside each showing about 6 mtpa available, and Sempra’s Port Arthur project offering roughly 3 mtpa.

Market commentators see the procurement drive as an acknowledgement that the disruption could be prolonged. "Qatar's current pursuit of long‑term LNG volumes from other producers to help Qatar deliver into their customer contracts indicates that Qatar now sees risk to their ability to export LNG for several years," said Saul Kavonic, head of energy research and advisory at MST Marquee. He added that the move signals concerns that the Strait of Hormuz disruption may be longer lasting and that repairing Qatari LNG infrastructure could take more time than initially expected.

About 80% of Qatar's LNG shipments typically go to buyers in Asia. With uncertainty over when normal flows through the Strait of Hormuz will resume, many Asian clients have begun seeking alternatives to Qatari supply, and some market participants are modelling scenarios in which Qatari gas is unavailable for an extended period.

Outlook

If talks result in secured multi‑year volumes, QatarEnergy would shift from a short‑term spot purchasing strategy to a more stable contractual approach to protect delivery commitments to key customers. U.S. exporters such as Venture Global, Cheniere and Woodside — which have publicly declined to comment on market speculation — stand to be significant suppliers if deals are finalised. The availability of roughly 25 mtpa from U.S. projects under construction provides the market capacity, but competition for those volumes is expected to intensify as buyers seek to hedge against prolonged supply disruption in the Gulf.