QatarEnergy Plans to Increase Purchases of American LNG

QatarEnergy is in the final stages of negotiations on a long-term agreement with American company Venture Global. The Qatari company will purchase at least 3 million tons of liquefied natural gas per year. The contract term and the start date for deliveries have not yet been agreed upon.

QatarEnergy has recently also been buying liquefied natural gas from Venture Global under short-term contracts. This was due to disruptions in shipments through the Strait of Hormuz, which made it difficult for the company to deliver the agreed volumes to its clients.

Venture Global has one of the largest available volumes of LNG for sale in the US. After bringing its new CP2 terminal in Louisiana online, the company could become the country's second-largest LNG exporter.

QatarEnergy also has a separate long-term agreement with Cheniere Energy. From 2031 to 2054, the company will receive 4 million tons of LNG annually from the Sabine Pass and Corpus Christi terminals.

Source: Reuters