QatarEnergy has signed two long-term agreements to buy up to 4 million tonnes of U.S. LNG per year from Cheniere through 2054, split evenly between Sabine Pass in Louisiana and Corpus Christi in Texas. Deliveries are expected to begin in 2031 on a free-on-board basis, meaning QatarEnergy will provide the vessel and control onward transportation, while the purchase price will be indexed to Henry Hub plus a fixed fee. One million tonnes per year of the Sabine Pass volume remains conditional on a positive final investment decision for Cheniere's first expansion phase. The agreements come as Qatar's own LNG system continues operating far below pre-war export levels following damage at Ras Laffan and disruption through the Strait of Hormuz.
QatarEnergy × Cheniere · October 22, 2026
An LNG Export Superpower Becomes a Long-Term U.S. Buyer
4 MTPA
U.S. LNG purchased through 2054
Annual Supply Split
Sabine PassLouisiana2.0 MTPA
Corpus ChristiTexas2.0 MTPA
Delivery Start2031
QatarEnergy says deliveries are anticipated to begin in 2031.
Contract End2054
Multi-decade supply extending into the second half of the century.
Delivery BasisFOB
QatarEnergy provides the vessel after LNG is loaded at the U.S. terminal.
PricingHH + Fee
Henry Hub natural-gas index plus a fixed liquefaction fee.
Conditional Volume1 MTPA
Part of Sabine Pass supply depends on a positive expansion FID.
Step 1Cheniere Produces LNG
U.S. natural gas is procured, liquefied and placed aboard the nominated carrier at Sabine Pass or Corpus Christi.
→
Step 2QatarEnergy Takes the Cargo
Under FOB terms, the buyer supplies the vessel and assumes the shipping leg after loading.
→
Step 3Cargo Can Be Sent Globally
The structure gives QatarEnergy destination flexibility across its trading and customer portfolio.
Derived using approximately 70,000 tonnes per cargo on a modern 174,000-m³ LNG carrier. Actual cargo sizes will vary.
Full-Term Volume Illustration
Up to ~96M tonnes
Four million tonnes annually across 2031-2054 would equal roughly 96 million tonnes if the full quantity flowed in every calendar year. One MTPA remains subject to the Sabine Pass expansion FID.
QatarEnergy's LNG Supply Portfolio
Qatar Is Building Supply on Both Sides of Hormuz
Ras Laffan remains the center of Qatar's LNG system, but QatarEnergy is simultaneously building equity and third-party supply positions on the U.S. Gulf Coast that do not depend on the Strait of Hormuz.
Qatar / North Field
77 → 142 MTPA
Domestic liquefaction base and planned expansion at Ras Laffan, with QatarEnergy targeting 142 MTPA of capacity by the end of 2030.
Core Supply
Golden Pass, Texas
~12.6 MTPA
QatarEnergy owns 70% of the 18-MTPA project. QatarEnergy Trading is entitled to market its 70% share.
Equity LNG
Cheniere
4.0 MTPA
Newly signed FOB purchases from Sabine Pass and Corpus Christi beginning in the early 2030s.
Signed SPA
Venture Global
≥3.0 MTPA
Reports advanced negotiations for another long-term U.S. purchase. No final agreement has been announced.
Talks Only
Ras Laffan War Damage
-17%
of Qatar's LNG export capacity damaged
QatarEnergy said missile damage could take up to five years to fully repair and estimated the resulting lost revenue at roughly $20 billion per year.
September 2026 Exports1.6M tonnes
Less than one-quarter of pre-war monthly levels.
October Forecast~0.6M tonnes
Reports estimate reflecting continuing production and Hormuz restrictions.
Pre-War Base77 MTPA
Qatar's established LNG production capacity before the North Field expansion.
2030 Domestic Target142 MTPA
QatarEnergy still plans a major domestic capacity expansion.
Shipping Capability
128-Carriers Newbuild Program
QatarEnergy's historic fleet program covers 104 conventional 174,000-m³ LNG carriers plus 24 QC-Max ships of 271,000 m³. The vessels support North Field expansion, Golden Pass and fleet renewal.
Trading Capability
Freight Is Already Part of the Business
QatarEnergy Trading's mandate includes third-party LNG, equity LNG, physical trading, portfolio optimization and freight trading. The Cheniere FOB volumes fit directly into that model.
FOB Cargo Dispatch Board
Convert QatarEnergy's U.S. LNG volume into annual cargoes, ship-days and approximate fleet requirement as destinations shift between Atlantic and Asian markets.
Shipping Scenario
MTPA
thousand tonnes
50%
days
days
Origin 1Sabine Pass2 MTPA contract
Origin 2Corpus Christi2 MTPA contract
LNG Carrier
U.S. Gulf28.6 cargoes/yearEurope
LNG Carrier
U.S. Gulf28.6 cargoes/yearAsia
Atlantic / Europe3.3 ship equivalents
Asia / Pacific4.3 ship equivalents
Annual Cargoes57.1
Annual volume divided by entered average cargo size.
Annual Ship-Days2,771
Weighted transport requirement based on destination mix.
Fleet Equivalent7.6 ships
Approximate continuously employed vessels under entered assumptions.
Cargoes Through 20541,371
Illustrative 24-year total at constant annual volume and cargo size.
Average Cargo Interval6.4 days
Average spacing between annual liftings.
Scenario only. Round-trip days are user-adjustable planning assumptions and include no guarantee of actual routes, Panama Canal access, port waiting, maintenance or ballast positioning. The model does not imply QatarEnergy must charter this number of new vessels: cargoes may be carried by its expanding long-term charter fleet, portfolio vessels, spot charters, swaps or other commercial arrangements. One MTPA of the announced 4-MTPA contract remains contingent on a positive Sabine Pass expansion FID.
Feedback Welcome
We welcome your feedback, suggestions, corrections, and ideas for enhancements.
