EXCLUSIVE-QatarEnergy buys US, other LNG to hedge future Hormuz disruptions

​QatarEnergy is buying ‌long-term supplies ​of liquefied natural gas from the US and other suppliers as ‌part of a strategy to build a trading and arbitrage hedge that would generate revenue if exports through ‌the Strait of Hormuz are disrupted in the future, ‌CEO Saad Sherida Al-Kaabi told Reuters on Thursday.

"In a scenario where you have a closure of the strait, which is the ⁠true ​contingency that ⁠we're looking to have, you'd immediately see a spike in gas ⁠price and you'll be able to generate revenue for QatarEnergy ​that otherwise wouldn't be generated," Kaabi, who is also ⁠the minister of state for energy affairs, said of the ⁠plan. Kaabi's ​remarks reveal for the first time how Qatar, one of the world's largest LNG producers, plans ⁠to offset lost income from the Iran war and protect ⁠revenue ⁠against future disruptions in the Strait of Hormuz.