COP · 10-Q · 2026Q3 · Full report

Qatar Supply Constraints

CONOCOPHILLIPS · 2026-11-05 · Importance 44 · Surprise 24

ConocoPhillips has investments in Qatar LNG facilities, including one producing asset and two projects under construction. Production from its Qatar investments remained constrained through the third quarter of 2026; those investments accounted for approximately 4% of total company production volumes in 2025. Further escalation could affect operations, LNG transportation and construction, and create broader supply-chain impacts; the company reported no physical damage to its investments.

Key facts

• ConocoPhillips’ equity method investments in Qatar had a carrying value of approximately $2.0 billion at September 30, 2026. source
• ConocoPhillips' Qatar investments accounted for approximately four percent of total company production volumes in 2025. source
• ConocoPhillips had investments in one producing LNG asset and two LNG projects under construction in Qatar; production remained constrained through the third quarter of 2026, with no physical damage or indicators of impairment identified as of September 30, 2026. source