Iran and Oman to sign joint Strait of Hormuz agreement on Monday

QatarEnergy, the state-owned company, is reportedly in discussions with Venture Global, Cheniere, and Woodside to secure multi-year Liquefied Natural Gas (LNG) deals. This comes as the Strait of Hormuz remains under blockade due to the ongoing Iran-US war. The Ras Laffan complex, Qatar's largest liquefaction facility, was damaged by Iranian strikes in March, causing disruptions to its operations.

The discussions signify a shift from QatarEnergy's reliance on spot LNG cargoes to secure longer-term solutions. Qatar was once the world's biggest LNG exporter, but the war and the closure of the Strait of Hormuz have forced it to seek alternative sources. The International Energy Agency (IEA) reports that over 110 billion cubic meters (bcm) of LNG passed through the Strait in 2025, accounting for nearly one-fifth of global LNG trade.

Most of Qatar's LNG shipments are typically exported to Asian buyers. With repairs on the damaged facility taking three to five years, QatarEnergy is now looking to replace lost export volumes from its damaged Ras Laffan facility.