QatarEnergy is holding advanced talks with US-based Venture Global for a long-term deal to purchase liquefied natural gas. Three sources familiar with the matter told Reuters the deal involves at least three million tonnes per year.
The talks come as the company seeks to secure supplies for some of its customers amid ongoing disruption to shipping in the Strait of Hormuz. QatarEnergy is currently buying cargoes from the spot market through the American company, after maritime shipping activity declined due to the war and mutual strikes.
Diversifying supply sources
The duration of the potential contract and the timing of its signing have not yet been clarified. Neither company responded immediately to requests for comment, and the deal remains subject to the completion of negotiations.
Venture Global holds the largest uncontracted LNG production capacity among US suppliers. It is expected to become the second-largest US exporter once its CP2 plant, currently under construction in Louisiana, becomes operational.
Previous agreement with Cheniere
If the negotiations are finalized, the deal would mark QatarEnergy’s second major long-term agreement with a US exporter this year.
Cheniere announced on Thursday a deal to supply the company with four million tonnes annually, from 2031 through 2054. The Sabine Pass facility in Louisiana and the Corpus Christi facility in Texas will share these volumes equally.
These moves reflect the company’s efforts to diversify its supply sources and strengthen its ability to meet its commitments to customers.
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