QatarEnergy purchases 33 US LNG cargoes amid Hormuz crisis

QatarEnergy has purchased a significant volume of liquefied natural gas from the United States to maintain supplies to Asian customers amid a prolonged shipping crisis in the Strait of Hormuz, industry sources confirmed on Thursday, July 30. The state-owned company bought 33 spot LNG cargoes this year, valued at approximately $1 billion, after Iran closed the strait to shipping and QatarEnergy declared force majeure on its export contracts.

The blockade of the strategic waterway, which typically handles about 20% of global oil and gas supplies, halted Qatar's primary export route. The 33 purchased cargoes represent roughly one-third of QatarEnergy's monthly LNG export volume prior to the current hostilities. This marks a dramatic increase from last year, when the company bought only four such spot cargoes. Industry sources described the move as a gesture of good faith to protect its long-standing reputation as a reliable supplier and to assist key customers facing energy disruptions.

According to data from analytics firm Kpler, 28 of the 33 cargoes have already been delivered, with the remaining five en route to South Korea, Taiwan, and India. The cargoes were purchased directly...