Qatar Projected to Become Top U.S. Gas Buyer by 2033 Amid Export Crisis
Qatar is projected to become the largest buyer of U.S. gas by 2033 as regional conflict and Iranian strikes severely disrupt its domestic production and export capacity.
The ongoing conflict involving Iran has severely impacted Qatar's gas export capacity, prompting the nation to secure major deals for American liquefied natural gas. According to a Financial Times report, Qatar is projected to become the largest buyer of U.S. gas by 2033 as it seeks alternative supply sources outside the Middle East.
Major U.S. Supply Agreements
In late October, QatarEnergy, the state-owned energy company, signed two agreements to purchase American gas, increasing its volume for global clients by seven million tons annually. Qatar holds a 70% stake in Golden Pass, a Texas export project, and is expected to control 23.7 million tons per year of U.S. output by 2033, according to research firm Wood Mackenzie. The gas will be sold directly to international customers without physically entering Qatar, bypassing the Strait of Hormuz.
Impact of Iranian Strikes on Ras Laffan
Days after the outbreak of the war, Qatar halted gas production, with exports dropping to less than a third of normal levels due to regional security disruptions and Iranian attacks on shipping. Iranian missile strikes on the Ras Laffan production facilities reduced the country's export capacity by approximately 17%. Energy Minister and QatarEnergy CEO Saad al-Kaabi stated that repairing the damaged facilities could take up to five years.
