Aerial view of the Strait of Hormuz
How Hormuz chokehold threatens LNG buyers
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
QatarEnergy confirmed on 2 March it had halted production of LNG following military strikes against its facilities in Ras Laffan, responsible for around a fifth of global LNG exports. Earlier, the country’s defence ministry confirmed a drone launched from Iran had targeted a power plant at the LNG hub, without specifying whether any damage had been sustained. As the US and Israel continue strikes against Iran, Tehran has warned that vessels will not be allowed passage through the Strait of Hormuz—the only way Qatar can export its roughly 80mt/yr of LNG cargoes to open waters. And numerous LNG carriers are reported to be either anchored in open waters outside the strait or stuck on the opposi
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2 March 2026
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
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