Equinor Expands LNG Portfolio to 15 Mt as Hormuz Blockade Hits Qatar Exports

Equinor plans to grow its global LNG portfolio to 10-15 million tons per year by the early 2030s, targeting European and Asian buyers affected by the Strait of Hormuz blockade. The blockade, resulting from the U.S.-Israeli war with Iran, has halted most Qatari and UAE LNG exports, creating supply gaps. Equinor expects to announce a second Asian supply agreement this week, signaling a strategic shift to capture market share.