Qatar: LNG trade remains stable despite conflicts

DOHA, January 25, 2024 – QatarEnergy has confirmed that global LNG deliveries will remain uninterrupted despite conflicts in the Red Sea region, the Qatari NOC announced in a statement on Wednesday.

LNG deliveries through the region are expected to take alternate routes.

On January 16, three out of four tankers carrying Qatari LNG changed course to the longer Cape of Good Hope route around Africa.

A series of strikes by the US military have been carried out this month against Houthi-controlled military assets in Yemen.

The Iran-backed Houthis group say they are supporting Palestinians in the recent Israel-Palestine conflict by attacking vessels in key marine transport lanes.

Around 12% of the world’s shipping traffic passes through the Suez Canal and 4-8% of global energy cargoes passed through it in 2023.

Qatar, the USA and Russia are the lead shippers through the canal.

In December 2023, many global shipping giants halted shipments through the Red Sea region and the Suez Canal due to security reasons.

Read our latest insights on: