QatarEnergy Signs U.S. LNG Deals Through 2054

QatarEnergy has signed two long-term agreements to buy up to 4 million tonnes of liquefied natural gas annually from U.S. producer Cheniere, securing supply through 2054 as Qatar seeks to diversify its portfolio amid disruption to its own exports. Deliveries are expected to begin in 2031 or the early 2030s. The agreements allocate 2 million tonnes per year to Cheniere’s Sabine Pass facility in Louisiana and 2 million tonnes to its Corpus Christi facility in Texas. One million tonnes of the annual Sabine Pass allocation is conditional on a final investment decision for the first phase of an expansion at the terminal. The agreements therefore cover up to 4 million tonnes annually, with that portion dependent on the project decision. The contracts are structured on a free-on-board basis, under which QatarEnergy takes responsibility for cargoes after they are loaded at the terminals. Pricing is linked to the Henry Hub natural gas benchmark plus a fixed fee, according to reporting on the agreement. QatarEnergy said the purchase would expand and diversify its global LNG portfolio and help it meet changing market requirements. Saad Sherida Al Kaabi, Qatar’s minister of state for...