Qatar’s LNG route through Hormuz shows first signs of a possible recovery

A Qatari LNG tanker has crossed the Strait of Hormuz for the first time since July, giving the market an early sign that LNG shipments from Qatar could start moving through the key waterway again. The Al Marrouna reached the Gulf of Oman on Tuesday after loading LNG in Qatar last month, Marine Insight reports.

The vessel was heading to Port Qasim in Pakistan, according to ship-tracking data. It also kept transmitting its position while passing through the Strait of Hormuz.

Qatar largely halted LNG shipments through the waterway after one of its tankers was attacked in late July. Before the disruption, Qatar accounted for about one-fifth of global LNG exports.

Several empty Qatari LNG carriers have also started moving back towards the Persian Gulf. This could mean Qatar is positioning vessels for future exports, but it is still too early to say that regular LNG shipments through Hormuz have returned.

QatarEnergy has kept force majeure on some LNG deliveries to European and Asian buyers as the disruption continues. At the same time, Qatar remains a major focus for global gas buyers as the market looks for signs of a return to more stable supplies.

Iran and Oman are also discussing an arrangement to manage shipping through the Strait of Hormuz. Any improvement in the security situation could help Qatar restore more LNG flows, but the latest voyage alone does not mean exports have returned to normal.

 

Picture: Derrick Pinington / MarineTraffic