Qatar is intensifying efforts to recall more empty liquefied natural gas (LNG) carriers to its home waters, aiming to restore a supply stream that represents approximately one-fifth of the global total.
Ship-tracking data compiled by Bloomberg shows three LNG carriers owned by Qatar's state shipping company are currently positioned in the Gulf of Oman, near the eastern entrance to the Strait of Hormuz. An additional five vessels linked to the nation are located off the eastern coast of Oman, with several more ships en route to the area.
Prior to the outbreak of the US-Iran conflict, Qatar was the world's second-largest LNG exporter. However, attacks on its major liquefaction facilities during the initial phase of the conflict, coupled with the closure of the Strait of Hormuz which severely hampered outbound shipments, prompted Qatar to swiftly halt production. Authorities in Doha plan to restore most of its output within two months of the safe reopening of the strait.
Shipping data indicates that at least three more empty LNG carriers associated with Qatar have transited the waterway in the past week. Previously, Qatar had refrained from directing empty vessels into the Persian Gulf due to security concerns.
Despite these challenges, Qatar has recently begun to resume some exports. Data shows that in the week ending June 19, the country loaded just over 300,000 tonnes of LNG, marking the highest level since early March. However, this volume remains only about one-fifth of the export scale seen in late February, before the US and Israel launched strikes against Iran.
The return of these vessels follows the signing of an interim agreement between the US and Iran to reopen the Strait of Hormuz, leading market expectations for a recovery in traffic through this critical shipping lane.
Comments