At least two liquefied natural gas (LNG) shipments successfully transited the Strait of Hormuz this week, as producers intensify efforts to boost flows to a market currently struggling with a significant lack of supply and surging prices. One tanker, loaded at Qatar’s Ras Laffan export plant in late August, was observed in the Gulf of Oman earlier this week, indicating its passage through the contested waterway. Although the vessel was not actively transmitting a signal during its transit of Hormuz, signal jamming and interference are common in the area, complicating precise ship tracking.
Separately, Pakistan secured a recent Qatari LNG shipment after negotiating with Iran for safe passage through the Strait of Hormuz. This provided some relief to Pakistan, which is facing an energy shortfall. The tanker, which loaded LNG from Qatar’s Ras Laffan facility in late June, crossed the strait over the weekend and is expected to arrive at Pakistan’s import facility by Tuesday. This marks the second such Qatari delivery this month, with negotiations handled between government officials. Another vessel, the Al Marrouna, loaded in Qatar earlier in September and was observed heading towards the Strait of Hormuz, signaling Port Qasim in Pakistan as its destination.
The recent uptick in transits suggests progress in restoring gas flows through the Strait of Hormuz, following months of severe supply disruption. The disruption began with an Iranian attack on a Qatari tanker in early July, which brought Qatari LNG exports to a near standstill. This event led to a significant supply crunch, pushing global spot gas prices to levels not seen since the 2022-2023 energy crisis. While oil shipments through the strait have recovered to about two-thirds of pre-disruption volumes, LNG flows have faced greater challenges. The Strait of Hormuz remains the sole sea route for Qatari LNG, making continued navigation of the waterway crucial despite security risks.
The increasing transits, including at least three LNG ship-to-ship transfers observed off Oman since mid-August, indicate that shippers and charterers are adapting operational practices to maintain cargo movement. These adaptations include vessels transiting without broadcasting their position and the emergence of at-sea ship-to-ship transfers. Before the disruption, approximately three LNG cargoes moved through Hormuz daily, with Qatari exports alone accounting for close to a fifth of global LNG supply. The ongoing standoff has reshaped global gas trade patterns, forcing buyers normally served by Qatari cargoes to compete for alternative supplies on the spot market, further tightening balances and adding upward pressure on prices as winter approaches.
