QatarEnergy Signs 20-Year Cheniere LNG Deals for Up to 4 Million Tonnes Annually

QatarEnergy has signed two long-term agreements with Cheniere Energy (NYSE: LNG) to purchase up to 4 million tonnes of liquefied natural gas annually through 2054, as the Iran war disrupts Gulf energy supplies and forces one of the world's largest gas exporters to secure American output. Under the agreements announced Thursday, QatarEnergy will buy 2 million tonnes annually from Cheniere's Sabine Pass facility in Louisiana and 2 million tonnes from Corpus Christi in Texas. Deliveries are expected to begin in the early 2030s, with prices linked to the Henry Hub benchmark plus a fixed fee. One million tonnes of the Sabine Pass commitment remains conditional on a final investment decision for the facility's expansion. The deal follows Iranian strikes on Qatar's Ras Laffan complex that damaged two of the country's 14 LNG production trains, eliminating roughly 17% of national export capacity. Repairs could take three to five years, and QatarEnergy has repeatedly extended force majeure declarations on deliveries to Asian and European customers as shipping through the Strait of Hormuz remains disrupted. QatarEnergy is also developing the Golden Pass LNG terminal in Texas with ExxonMobil.