Qatar LNG Outage Spurs $60 Billion in Global Gas Deals at Gastech

Qatar's LNG export capacity remains roughly 17% disabled after March strikes on two Ras Laffan production units, prompting buyers at the Gastech conference in Bangkok to advance agreements valued at an estimated $60 billion, organizers said. Deals included a 20-year U.S. LNG sales and purchase agreement between China Gas Holdings and Venture Global LNG for 0.5 MTPA starting in 2030, and a 35-year production-sharing contract between PETRONAS, PTTEP JDA and the Malaysia-Thailand Joint Authority in the Gulf of Thailand. Proposed projects in Argentina, Timor-Leste and Tanzania also drew buyer interest. Wood Mackenzie estimates Qatari repair costs at about $5.8 billion, with full restoration of damaged liquefaction trains taking up to three years. QatarEnergy delayed first production at North Field East to the first half of 2027. Qatar's hydrocarbon GDP fell 25.8% year on year in the first quarter of 2026. Oil fell below $100 per barrel on September 22, the first time in two weeks, after U.S. President Donald Trump signaled openness to meeting Iranian President Masoud Pezeshkian at the United Nations General Assembly opening September 23.