Qatar positions LNG tankers for potential restart of shipments through Strait of Hormuz amid US-Iran tensions

Several LNG tankers associated with Qatar are currently en route to the Persian Gulf, hinting at a potential restart of shipments through the critical Strait of Hormuz. The intensifying conflict between the US and Iran is complicating shipping dynamics in the region, prompting Asian and European buyers to explore other supply options as prices remain high. Empty tankers are being arranged around the waterway in light of the situation's volatility.

Qatar appears to be positioning LNG carriers for a possible return to exports through the Strait of Hormuz, with several empty vessels linked to the country now moving towards the Persian Gulf.

Bloomberg-compiled ship-tracking data showed six empty Qatari-linked LNG carriers either in the Gulf of Oman or sailing towards the waterway. Kpler data also showed another empty carrier that recently crossed Hormuz and is now in the Persian Gulf, heading towards Qatar.

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The movements come after Qatar, once responsible for about a fifth of global LNG supplies, almost completely halted shipments following an attack on one of its tankers in late July.

Qatar's oil exports have followed a different trajectory, rising significantly over roughly the past month. The LNG tanker movements suggest the gas producer could be preparing for a possible restart of shipments even as regional tensions remain high.

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Fighting between the US and Iran has flared up again, while Tehran has declared a restricted zone outside the Strait of Hormuz, adding to uncertainty over the key energy route.

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Despite the disruption, QatarEnergy has continued loading LNG onto empty vessels available inside the Gulf. It has also continued supplying fuel to Kuwait, helping the company manage its storage levels and keep sections of its huge export complex operating at reduced capacity.

Keeping some production running also means QatarEnergy can maintain its equipment and potentially increase output more quickly if conditions around Hormuz improve.

The extended interruption to exports, however, has reduced Qatar's supply of available empty LNG carriers. According to ship-tracking data, 15 LNG carriers carrying Qatari gas are currently idled behind Hormuz. Two more vessels are loading at the Ras Laffan export terminal in Qatar.

The disruption has forced LNG buyers in Asia and Europe to seek supplies elsewhere, contributing to higher prices. A return of Qatari cargoes could ease some of that pressure, particularly for price-sensitive buyers in South Asia, where shortages have contributed to power blackouts.

There have also been signs of caution among vessels approaching the waterway. Two empty LNG tankers appeared to attempt a passage through Hormuz in recent days before turning back. Both are now waiting near the strait's eastern entrance.

With inputs from agencies