Liquefied natural gas exports have crashed to a six-month low, erasing recent supply gains from the United States and other producers as the Iran conflict devastates Gulf shipments. The sharp contraction underscores the fragility of global gas markets when key chokepoints face disruption.
Qatar and the UAE, traditionally the world's largest LNG exporters, have seen output hampered by attacks on upstream infrastructure and uncertainty surrounding the Strait of Hormuz. Meanwhile, US exporters that had bolstered supplies are finding their advantage offset by the overall market shock.
The decline signals mounting pressure on energy importers globally. Asia, which relies heavily on Middle Eastern LNG, faces the prospect of prolonged supply constraints and elevated spot prices. European markets are also tightening, with strategic reserves being drawn down as shippers redirect cargoes away from conflict zones.
According to TankerMap data, LNG carrier traffic through the Strait of Hormuz has dwindled to sporadic transits, with most vessels waiting for improved security conditions before committing additional cargoes to the route.