LNG Traffic Through Strait of Hormuz Reaches Seven-Month High

Liquefied natural gas exports through the Strait of Hormuz reached their highest level since the outbreak of the Iran war, according to shipping data. Data from Kpler cited by Reuters indicates that 31 LNG tankers navigated the critical Persian Gulf waterway last month, up from 27 vessels in September.

Despite the monthly increase, the total volume remains far below pre-war figures. October loadings stood at 2.7 million tons, a stark contrast to February's output of nearly 6.2 million tons. The ongoing disruption stems from Iranian military attacks in March that disabled approximately 17 percent of Qatar's export capacity and inflicted an estimated $20 billion in annual revenue losses, according to QatarEnergy.

The protracted crisis has forced QatarEnergy to declare force majeure on several long-term contracts and extend delivery suspensions for Asian and European markets through December 2026. In an unusual commercial pivot resulting from the maritime blockages, Qatar recently finalized two major long-term agreements to purchase up to 4 million tons per year of U.S. liquefied natural gas from Cheniere Energy's Sabine Pass and Corpus Christi facilities, with deliveries scheduled between 2031 and 2054.

While Qatari shipments continue to suffer from constrained passage, the United Arab Emirates has successfully restored its liquefied natural gas exports to pre-war levels. October loadings from Das Island remained steady at seven, matching the total recorded in September.

Meanwhile, security conditions inside the strategic waterway remain volatile. Iranian forces reported that multiple tankers have sustained damage from naval mines and fires in recent months. The United Kingdom Maritime Trade Operations agency also reported incidents involving projectiles striking vessels near Qatari waters.

Energy analysts warn that despite the recent uptick in vessel traffic, the Northern Hemisphere faces a winter of high energy security uncertainty. Tight global supplies and persistent geopolitical friction continue to threaten market stability and keep the pressure high on natural gas prices.