Two Qatari LNG tankers, the Al Daayen and the Rasheeda, are reportedly attempting to navigate the Strait of Hormuz, marking a potential resumption of LNG exports from Qatar after a month-long halt due to regional tensions. The vessels, which loaded LNG just before the onset of the conflict, are signaling destinations that could include China, although their ability to transit remains uncertain amid ongoing Iranian military activity in the area.
This development is critical for global energy markets, as the closure of the Strait has effectively trapped around 20% of daily LNG flows, contributing to soaring gas prices in Asia and Europe—the highest in three years. The situation is exacerbated by damage to Qatar’s Ras Laffan LNG complex, which is expected to result in approximately $20 billion in annual revenue losses for QatarEnergy and has led to force majeure declarations on long-term contracts.
Market participants should closely monitor the transit of these tankers, as successful navigation could alleviate some supply pressures and impact pricing dynamics ahead of the winter season.
Source: oilprice.com