Qatar Turned To U.S. Gas As Hormuz Closed. Emergency LNG Purchases Reached About $1 Billion

QatarEnergy acquired 33 spot LNG cargoes for delivery to customers across South Korea, Japan, Taiwan, India and Bangladesh after the closure of the Strait of Hormuz interrupted shipments from Qatar (Credit: Getty Images)

QatarEnergy significantly increased purchases of U.S. liquefied natural gas this year after exports from Qatar were disrupted during the conflict involving Iran, underscoring how quickly global LNG trade can shift when one of the world's most important energy corridors is interrupted.

The state-owned producer acquired 33 spot LNG cargoes for delivery to customers across South Korea, Japan, Taiwan, India and Bangladesh after the closure of the Strait of Hormuz interrupted shipments from Qatar, people familiar with the matter told Reuters. The cargoes, valued at roughly $1 billion, represent a sharp increase from the four spot cargoes the company purchased during the previous year.