ConocoPhillips CEO Urges Washington to Protect American Assets in Qatar

ConocoPhillips CEO Ryan Lance on Tuesday called on the US administration to strengthen protection of the company's assets in Qatar, speaking at the CERAWeek (Cambridge Energy Research Associates Week) conference in Houston, Texas. The company has been present in the emirate for more than 20 years, holding stakes in several liquefied natural gas (LNG) projects, most of which are transported through the Strait of Hormuz. Meanwhile, strategic moves continue across the gas sector: TotalEnergies recently launched production at the Quiluma offshore gas field in Angola, and EDF sold the Norte Fluminense gas plant for 230 million euros.

Expanding American Protection to Economic Interests

Lance called on Washington to treat the overseas assets of American companies the same way it protects military bases, embassies, and American citizens abroad. "We are clearly a major investor in Qatar. A large part of my interactions with the administration is advocating for additional protection of American assets in the country," he said, citing "hundreds of millions of dollars in investments." He argued that the US government should "add American economic interests to that list" of protected entities abroad.

ConocoPhillips is one of the world's largest independent oil and gas exploration and production companies. The company is exposed to risks from the ongoing Middle East conflict and the blockade of the Strait of Hormuz, through which a significant share of Qatar's LNG exports transit. According to Lance, the group is "trying to gauge the long-term implications."