QatarEnergy in talks with Venture Global, others for U.S. LNG deals - Reuters

QatarEnergy is engaged in negotiations with multiple U.S. liquefied natural gas producers to secure contracts extending through 2031, according to sources familiar with the discussions. The company is looking to replace lost capacity following attacks on its Ras Laffan facility, where two of its 14 LNG trains and a gas-to-liquids facility were damaged in March.

The discussions involve potential contracts with Venture Global, Cheniere, and Woodside, among others. This shift signifies a move away from the company's reliance on spot LNG purchases, towards longer-term arrangements to cover the shortfall. QatarEnergy CEO Saad al-Kaabi had previously stated that repairs would sideline 12.8 million tons per year of LNG capacity for three to five years.

The company's trading arm, QatarEnergy Trading, is aiming for 2-3 million metric tons annually through 2031. QatarEnergy faces uncertainty as the Strait of Hormuz remains closed, potentially prolonging the disruption. This move suggests that Qatar recognizes the risk to its LNG exports due to the ongoing situation and the extent of damage to its infrastructure.