Qatar’s LNG exports have collapsed 96% after the Strait of Hormuz was effectively closed, with just 18 cargoes exported versus 509 a year earlier.

INTELLIGENCE SUMMARY

Qatar’s LNG exports have collapsed 96% after the Strait of Hormuz was effectively closed, with just 18 cargoes exported versus 509 a year earlier. Qatar has lost about $24 billion in gas revenue, while increased U.S. LNG exports are partially filling the gap. Meanwhile, European gas storage is at a record low for this time of year, raising the risk of price spikes heading into winter. Source: Reuters