QatarEnergy in talks for long-term US LNG supplies through 2031

QatarEnergy is in talks to sign multi-year contracts to purchase US liquefied natural gas (LNG) through 2031.

According to Reuters, cited by Report, the talks are being held with US companies Venture Global and Cheniere, as well as Australia's Woodside.

QatarEnergy is seeking to replace volumes lost from the Ras Laffan complex, where two of its 14 LNG production trains, as well as a gas processing facility, were damaged in Iranian strikes in March.

The company has so far purchased dozens of US LNG cargoes on the spot market to meet its commitments to some customers in Asia. The shift to negotiations on multi-year contracts points to an effort to find a longer-term solution to the supply shortfall.

QatarEnergy CEO Saad al-Kaabi previously said the damage would take 12.8 million metric tons per year of LNG production capacity offline for three to five years.

According to one source, QatarEnergy"s trading arm, QatarEnergy Trading, plans to purchase 2–3 million metric tons of LNG per year through 2031. The division manages 10 million metric tons of LNG in the company"s portfolio.