Thailand accelerates talks with US LNG suppliers after Qatar force majeure halts shipments through the Strait of Hormuz until mid-August.
Thailand is advancing negotiations with US liquefied natural gas (LNG) suppliers to secure long-term supply amid disruptions from the Middle East. Qatar, a key LNG exporter, declared force majeure on shipments, halting flows through the Strait of Hormuz until at least mid-August. Full export capacity may not resume for another five years, prompting Asian buyers to diversify sources.
Thailand, Southeast Asia’s largest LNG importer, aims to reduce reliance on Middle Eastern supply chains. The country’s push for US LNG aligns with broader regional efforts to mitigate geopolitical risks. Prior shipments from Qatar accounted for a significant portion of Thailand’s LNG imports, with no immediate alternatives available.
The shift could reshape global LNG trade flows, with US exporters poised to gain market share in Asia. No immediate market reaction was reported, but long-term contracts may emerge in the coming months.