LNG tanker traffic through the Strait of Hormuz, Digi Mart USA News: Exports of liquefied natural gas via the Strait of Hormuz last month reached their highest total since February, with 31 tankers compared with 27 in September, according to data from Kpler, as cited by Reuters. Most of these cargoes were loaded from Qatar’s Ras Laffan hub, even though the facility is still under force majeure.
In two cases, according to Kpler, LNG cargoes loaded at Ras Laffan were transferred to other tankers once the original vessels had cleared the Strait of Hormuz. Despite the increase in loadings, total Qatari volumes remain far below pre-war levels.
Kpler said Qatar’s LNG exports reached close to 6.2 million tons in February, while the October total stood at 2.7 million tons.
The data suggests the UAE has restored its LNG exports to pre-war levels, unlike Qatar. October loadings from Das Island totaled seven cargoes, unchanged from September.
QatarEnergy said in March that Iranian attacks on U.S. allies in the Gulf had knocked out 17% of Qatar’s export capacity and caused an estimated loss of $20 billion in annual revenue.
Since then, the company has been working to find ways to service its contracts despite the force majeure.
In an unusual development, Qatar recently became the largest buyer of U.S. liquefied gas after signing two long-term deals with Cheniere Energy to buy up to 4 million tons per year of LNG from Cheniere’s Sabine Pass and Corpus Christi export facilities.
Deliveries are expected to begin in 2031 and continue through 2054.
Despite the recovery in LNG flows out of the Persian Gulf, Rystad Energy warned earlier this week that this winter in the Northern Hemisphere will be extremely uncertain for energy security, with a high likelihood of much higher gas prices due to tight supply.
