Qatar-linked LNG vessels are gathering near the chokepoint that matters. Six empty carriers are already in or moving toward the Gulf of Oman, and a separate empty ship has crossed Hormuz and is now making for Qatar inside the Persian Gulf. That reshuffle looks like groundwork for a potential restart of exports through the strait, despite renewed clashes between the US and Iran and Tehran's designation of a zone beyond Hormuz as restricted. QatarEnergy did not provide a comment when contacted beyond normal business hours.
Even with most overseas LNG shipments on hold since late July, the producer has been loading cargoes onto whatever empty tankers it has inside the Persian Gulf and has continued sending fuel to Kuwait. Two vessels are currently taking on LNG at the Ras Laffan export terminal. Keeping parts of the giant complex running at minimum levels helps manage storage, keeps equipment in working order, and leaves the option to ramp faster if the waterway situation improves.
Months of disruption have thinned the pool of available empty ships. Fifteen LNG carriers loaded with Qatari gas are sitting behind Hormuz, and two empty tankers tried to make the passage in recent days before turning back. Those two are now waiting near the strait's eastern entrance. Meanwhile, oil shipments out of Qatar have climbed notably over the past month or so.
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Qatar used to supply about one fifth of global LNG. With its exports largely sidelined, Asian and European buyers have scrambled for alternatives, and prices have stayed elevated.
