In an interview with Reuters on Thursday, November 7, Saad Sharida Al Kaabi, CEO of the Qatar Energy Company, announced that he had met with the acting oil minister of the Islamic Republic twice in the past two weeks and that the two sides were discussing oil and gas cooperation after the end of the war.
Al-Kaabi also said that the Qatar Energy Company is purchasing long-term liquefied natural gas from the US and other suppliers to compensate for losses caused by the Iran war and to protect its revenues from possible disruption in the Strait of Hormuz.
According to him, these purchases are part of Qatar Energy's strategy to create commercial risk coverage and take advantage of price differences in the global gas market.
The CEO of Qatar Energy explained: "In a scenario where the Strait of Hormuz is closed, we will immediately see a jump in gas prices and it will be possible for Qatar Energy to earn income that otherwise would not have been received." At the same time, he emphasized that the new gas purchase contracts cannot be used as an alternative source of gas supply to Qatar's long-term customers in the event of a disruption in the Strait of Hormuz, because these contracts are limited to a specific origin and destination.