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Market Chatter: US-Based Venture Global, Thai Firm PTT Accelerate LNG Supply Deal Amid Qatari Gas Supply Disruptions

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US liquefied natural gas company Venture Global (VG) and Thailand's state-owned PTT are accelerating a new long-term supply deal for US LNG, as Qatari supplies remain disrupted following attacks linked to the US-Iran war, Reuters reported Tuesday, citing sources.

has reached out to the companies to seek further details, including the volumes involved and the duration of the contract.

QatarEnergy CEO Saad al-Kaabi said in March that repairs on LNG facilities in Ras Laffan Industrial City could take three to five years, with infrastructure damage curbing 17% of the company's export capacity. Qatar was the world's second-largest LNG exporter after the US.

Thailand has started diversifying its gas supplies, even before the onset of the US-Iran war, to displace coal for power generation.

PTT, last year entered into a cooperation agreement with Glenfarne Alaska for the procurement of 2 million metric tons per annum of LNG over a 20-year term. Glenfarne has not yet taken a final investment decision on the project.

In January, Thai company Gulf Development signed a 15-year sales and purchase agreement with French utility Engie, for 800,000 tons per annum of LNG supply.

In March, US LNG exporter Cheniere Energy (LNG) reportedly said it had maximized operational capacity to serve higher demand in Asia following the US-Iran war, according to Reuters. The company was working to expedite completion of two trains at its Corpus Christi plant in Texas.

Thailand was also reportedly seeking LNG supplies from Malaysia through a shared resource zone, the Malaysia-Thailand Joint Development Area, as supplies from the Middle East dwindled.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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