QatarEnergy purchases 33 US LNG cargoes to supply Asian customers amid Strait of Hormuz disruption

QatarEnergy has purchased 33 spot U.S. LNG cargoes worth $1 billion in 2026 to supply key Asian buyers, including South Korea and Japan, after Iran closed the Strait of Hormuz. The closure halted Qatari exports and blocked 20% of global oil and gas supplies, prompting QatarEnergy to declare force majeure. To protect its reputation, the company sourced gas from Venture Global LNG, highlighting the growing dominance of U.S. LNG exports amid geopolitical disruptions.

QatarEnergy US LNG purchases

• ▪QatarEnergy purchased 33 spot liquefied natural gas cargoes from the United States in 2026, compared to four cargoes purchased in 2025.
• ▪The 33 liquefied natural gas cargoes purchased by QatarEnergy in 2026 are valued at approximately $1 billion and represent about one-third of a month of the company's pre-conflict exports.
• ▪QatarEnergy purchased the liquefied natural gas cargoes directly from Venture Global LNG and some of Venture Global LNG's customers.

Iran Strait of Hormuz closure

• ▪Iran closed the Strait of Hormuz waterway to shipping during the conflict with the United States and Israel, halting Qatari gas exports.
• ▪The closure of the Strait of Hormuz by Iran blocked approximately 20% of global oil and gas supplies from major producers exporting from the Gulf.

Force majeure declaration

• ▪The force majeure declaration released QatarEnergy from its contractual obligations to supply gas to its customers.
• ▪QatarEnergy directed the 33 purchased U.S. liquefied natural gas cargoes to South Korea, Taiwan, Bangladesh, India, and Japan.

Asian customer supply continuity

• ▪The United States has become the world's largest liquefied natural gas exporter in recent years.
• ▪According to data from Kpler, 28 of the 33 cargoes have been delivered, while five remain en route to South Korea, Taiwan, and India as of July 30, 2026.
• ▪Approximately 80% of Qatar's liquefied natural gas shipments are typically exported to buyers in Asia.

US LNG export dominance

• ▪United States liquefied natural gas producers, including Venture Global LNG, have experienced increased demand due to the war in Iran and Russia's invasion of Ukraine.