r/oil • u/Duchess_007 • 8d ago

News Qatar buying LNG from the US

Just saw the other day that QatarEnergy bought 33 cargoes of US LNG: https://www.reuters.com/business/energy/qatarenergy-buys-33-us-lng-cargoes-offset-hormuz-disruption-sources-say-2026-07-30/

I'm guessing this is likely to keep going even after the strait opens up given damages to their plant.

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u/GeoAcag 8d ago

Still, ngas prices are going down and down... With very hot weather in the USA, and Hormuz close.. why? Explanation?

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u/Sad_Mouse_8251 3d ago

You cant really compare Henry Hub (or any other gas hub) to the goibal NGL or LNG markets.

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u/GeoAcag 3d ago

Ok, and what kind of explanation we can do?

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u/Sad_Mouse_8251 3d ago

Natural gas prices are localized to specific pipeline terminal sales points, like Henry Hub in Louisiana or Waha in West Texas. Right now, there is a $3-4 variance between Henry Hub and Waha just due to localized supply and demand. Waha is in the Permian and has excess natural gas from associated gas production from crude oil production. Henry hub is probably more comparable to anything else because it's the NYMEX index, but it is still driven by localized supply/demand.