finance
Thailand Seeks Long-Term U.S. LNG Supply After Hormuz Disruption
Thailand is accelerating talks for U.S. liquefied natural gas imports following the closure of the Strait of Hormuz. Qatar has declared force majeure on LNG shipments until at least mid-August, with full export capacity possibly unavailable for five years.
May 27, 4:00 PM·1m read1 source
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Asian buyers are seeking long-term LNG contracts from suppliers outside the Middle East after shipments through the Strait of Hormuz were halted. Qatar’s LNG exports remain under force majeure until at least mid-August, and full capacity at the Ras Laffan facility may not return for up to five years.
U.S. exporters to secure future supply. Talks between Venture Global and PTT have advanced since the closure of the strait.
The Hormuz route normally carries about 20 percent of global LNG trade. Countries dependent on Qatari volumes are now pursuing contracts with exporters whose routes do not pass through the strait. U.S. LNG agreements as one option to replace volumes previously sourced from Qatar.
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