Qatar seeks US long-term LNG imports after nearly $24bn loss
Business
Qatar, once the global leader in liquefied natural gas (LNG), is now asking the US for long-term import deals after its own exports dropped by a staggering 96%, losing nearly $24 billion in sales.
The sharp decline is linked to trade disruptions from the ongoing U.S.-Iran conflict, forcing Qatar to rethink its energy strategy and look elsewhere for reliable supplies.
Iran struck Ras Laffan facility
Things got tougher when Iran struck Qatar's Ras Laffan facility, the world's biggest LNG export plant, just days after the conflict began.
Repairs could take up to five years, putting big expansion plans on hold.
Now, with regional tensions still high, QatarEnergy is focusing on importing LNG from US projects and diversifying its sources to keep energy flowing worldwide.