Qatar has turned from the largest gas exporter into a gas buyer

Qatar has turned from the largest gas exporter into a gas buyer. This is reported by Bloomberg.

According to the agency, the state-owned company QatarEnergy is negotiating long-term contracts for the purchase of LNG from American producers, including existing and under construction projects. This is the first time that Qatar is looking for supplies outside the Middle East in order to fulfill obligations to customers.

As a result of the Iranian missile strikes, two of the 14 production modules (lines) at the Ras Laffan plant were damaged - Train 4 and Train 6. The head of QatarEnergy, Saad al—Kaabi, confirmed that it would take three to five years to recover.

Data from the analytical company ICIS, referenced by Bloomberg, show that during the six months of the war Qatar sent only 18 shipments of LNG, while for the same period last year — 509 shipments. This reduction is about 96%.

According to analysts, Qatar's losses from falling gas sales are estimated at about $ 24 billion, which is equivalent to about five months of state revenues.

It is noted that the Ras Laffan plant itself was not completely destroyed - the strike disabled only about 17% of its export capacity. However, the almost complete stoppage of exports is explained not only by the damage to the plant, but also by the blocking of the Strait of Hormuz: Qatar is almost completely dependent on this single sea route for the export of gas, and shipping risks have made deliveries almost impossible.