Qatar Loses $24 Billion as LNG Exports Collapse 96%
Six months since the Iran war crippled Qatar’s LNG exports via the Strait of Hormuz, the world’s second-largest liquefied natural gas exporter has lost $24 billion in sales as exports tumbled by as much as 96%, Reuters calculations showed on Wednesday. The number of LNG cargoes that Qatar has managed to export crashed to just 18, down from 509 cargoes shipped from Qatar in the same period of last year, per data from data intelligence firm ICIS cited by Reuters.
Why It Matters
This story touches on iran, qatar, lng — topics readers are actively tracking. Review and add editorial context before publishing.
Key Facts
- Fact 1: Six months since the Iran war crippled Qatar’s LNG exports via the Strait of Hormuz, the world’s second-largest liquefied natural gas exporter has lost $24 billion in sales as exports tumbled by as much as 96%, Reuters calculations showed on Wednesday.
- Fact 2: The number of LNG cargoes that Qatar has managed to export crashed to just 18, down from 509 cargoes shipped from Qatar in the same period of last year, per data from data intelligence firm ICIS cited by Reuters.
- Fact 3: The de facto closure of the Strait of Hormuz has trapped about 20% of daily global LNG flows.
- Fact 4: Qatar’s state firm QatarEnergy expects the damage to the Ras Laffan LNG complex, the world’s single largest LNG-producing facility, to cost it about $20 billion per year in lost revenue and to take up to five years to repair.
Six months since the Iran war crippled Qatar’s LNG exports via the Strait of Hormuz, the world’s second-largest liquefied natural gas exporter has lost $24 billion in sales as exports tumbled by as much as 96%, Reuters calculations showed on Wednesday. The number of LNG cargoes that Qatar has managed to export crashed to just 18, down from 509 cargoes shipped from Qatar in the same period of last year, per data from data intelligence firm ICIS cited by Reuters.
Qatar’s LNG exports are arguably the biggest energy commodity casualty of the war, as Qatar hasn’t managed to sneak as many vessels out of Hormuz as the UAE, for example, has done in recent months. The slashed exports from Qatar have wide-ranging implications for the global LNG and gas markets, with U.S. LNG exports benefitting from high prices and no-conflict-zone origin and Europe left without Qatari shipments, struggling to fill gas storage sites ahead of the winter.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: OilPrice.com
Related Stories
Sky owner: ‘Potential threat’ Enes Kanter Freedom banned from games
Meta settles social media addiction trial with states for up to $17B
Iran, Oman planning temporary corridor through Strait of Hormuz
