Seven months ago, Qatar was the world's biggest LNG seller. Now it's a buyer.
According to a Reuters scoop late Thursday, QatarEnergy is in advanced talks with Venture Global (VG) on a long-term supply deal for at least 3 million tons of LNG a year, sourced from VG's CP2 plant, which is still under construction in Louisiana. The report landed just hours after QatarEnergy signed a separate deal with Cheniere (LNG) for up to 4 million tons a year through 2054. VG shares jumped more than 6% on Friday, and they have now roughly doubled this year. Then again, they're still trading about 45% below their $25 IPO price.
Venture Global's other headline this month is that it wants to get into AI data centers... in a very big way. Goldman thinks both stories come back to the same molecule. Below we summarize what Goldman's LNG team has been telling clients about each (available to pro subs), and why we think the Qatar trade is the one that pays first.
The Customer Who Used To Be The Competition
Regular readers know how Qatar got here. In March, Iranian missiles hit Ras Laffan, the world's largest LNG complex. We wrote at the time that the attack itself was READ MORE AT SOURCE »
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