EXCLUSIVE: QatarEnergy buys US, other LNG to hedge future Hormuz disruptions

QatarEnergy says it is buying long-term LNG supplies from the US and other producers to build a trading and arbitrage hedge against future disruptions to exports through the Strait of Hormuz. CEO Saad Sherida Al-Kaabi told Reuters on Oct 29 that in a scenario where the strait is closed, gas prices would spike, allowing QatarEnergy to generate revenue it otherwise would not. The plan is also aimed at protecting income for Qatar, one of the world’s largest LNG exporters, amid uncertainty created by the Iran conflict. Reuters reports the comments were the first clear outline of the strategy’s rationale.