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Qatar agrees to buy U.S. LNG through 2054 as war hits its supply
QatarEnergy agreed to buy up to 4 million tons a year of liquefied natural gas from Cheniere Energy's Louisiana and Texas plants through 2054, its first U.S. purchase deal, after the Iran war damaged its own production.
QatarEnergy has signed two long-term agreements to buy up to 4 million tons a year of liquefied natural gas from U.S. producer Cheniere Energy through 2054, the first time the world's leading LNG exporter has agreed to buy American gas.
Under the deals, signed by QatarEnergy CEO Saad Sherida Al-Kaabi and Cheniere CEO Jack Fusco, Qatar will take 2 million tons a year from Cheniere's Sabine Pass plant in Louisiana and 2 million tons from its Corpus Christi plant in Texas. Deliveries are due to begin in the early 2030s, and 1 million tons of the Sabine Pass volume depends on a final investment decision on the plant's expansion.
QatarEnergy will buy the cargoes free on board, taking responsibility for shipping them from the U.S. terminals.
The agreements come after Qatar's own output was hit by the war with Iran, which damaged its Ras Laffan facility, while shipping through the Strait of Hormuz remains disrupted.
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