In 2026, once the Iran war began and the Strait of Hormuz blockade halted global gas and oil exports, QatarEnergy purchased 33 spot liquefied natural gas cargoes from the United States destined for South Korea, Taiwan, Bangladesh, India and Japan, according to a Reuters report today (Thursday).
1+QatarEnergy declared force majeure on its LNG shipments after Iran closed the shipping route, blocking twenty percent of global oil and gas supply from major exporters around the Gulf. The spot purchases of U.S. cargoes cost far more than the four shipments Qatar bought last year, and are worth around a billion dollars—a volume representing a third of the company’s monthly exports before the conflict.
Of the 33 shipments, 28 have already been delivered and five more are en route to South Korea, Taiwan and India, according to data analytics firm Kpler. The purchases were made directly from American producer Venture Global LNG as well as from the company’s customers.
Sources said the move was a goodwill gesture by QatarEnergy toward some of its most important customers, and that Qatar wanted to show clients it values them and is trying to help keep them supplied.
1+The Iran war and Strait of Hormuz blockade recently led to the shutdown of Qatari gas exports and trapped twenty percent of global energy supply in the Gulf, prompting Qatar to declare force majeure releasing it from contractual obligations. The significance of these steps is Qatar’s attempt to protect its decades-long reputation as one of the world’s most reliable gas suppliers by finding alternative solutions.
The United States has become the world’s largest LNG exporter in recent years, and producers like Venture Global are benefiting from demand for alternative supply following the Iran war and Russia’s invasion of Ukraine.