Stranded Middle East LNG Supply Upends Gas Markets

AI Summary

The Iran war has continued to restrict LNG shipments through the Strait of Hormuz, leaving Middle Eastern supply far below normal months after the disruption began. The loss of a major share of global LNG flows has tightened gas markets in Asia and Europe, with Qatar’s exports particularly affected.

The LNG supply out of the Middle East has not recovered in any meaningful way seven and a half months after the Iran war choked oil and gas shipments through the Strait of Hormuz. Since March, some occasional LNG cargoes have managed to squeeze through the chokepoint where a fifth of global liquefied Natural Gas supplies passed before the war. The rare shipments are not making much of a difference in the global gas market, which suddenly found itself without a fifth of daily LNG supplies and whose second-largest producer, Qatar, is now barely moving…