QatarEnergy and Cheniere sign LNG purchase agreement until 2054

QatarEnergy has signed an agreement with Cheniere Energy to purchase 4 million tonnes of liquefied natural gas annually from the latter, with the agreement effective until 2054. This is the first time the Middle Eastern country has signed such a procurement agreement with the United States, as its domestic production has been restricted due to the Iran war. The agreement comes as Qatar—one of the largest LNG exporters before the conflict—seeks to supply those customers whose deliveries were disrupted because its Ras Laffan facility was damaged during the war. Additionally, with shipping traffic through the key Strait of Hormuz still in turmoil, QatarEnergy has also been forced to significantly reduce its supply volume.