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Equinor Targets 15 Million Tons of LNG as Qatar Exports Stay Blocked

Equinor plans to expand its global LNG portfolio to between 10 million and 15 million tons a year in the early 2030s, targeting European and Asian buyers left short on supply by the Strait of Hormuz blockade, Reuters reported Wednesday. The company expects to announce a second Asian supply agreement this week, Equinor LNG vice president Ingvar Egeland said. The Hormuz passage normally carries about a fifth of global LNG supply, and the U.S.-Israeli war with Iran has blocked Qatar and the UAE from exporting most of theirs through it, pushing Asian…