Qatar LNG Tanker Sails Through Strait Of Hormuz For First Time Since July

A Qatari LNG tanker has passed through the Strait of Hormuz and reached the Gulf of Oman. It is the first visible movement of Qatar’s LNG out of the Gulf through the waterway since July.

The Al Marrouna, which loaded LNG in Qatar early last month, was in the Gulf of Oman on Tuesday morning local time.

Its next destination was listed as Port Qasim in Pakistan, with a possible arrival on Thursday, according to ship-tracking data compiled by Bloomberg.

The tanker was sending its location while it made the trip through Hormuz.

Several empty Qatari LNG tankers have started moving back toward the Persian Gulf. This could mean Qatar is preparing some vessels for LNG shipments through Hormuz again, although it is not clear whether regular exports will resume.

Qatar has stopped sending LNG through the waterway since one of its tankers was attacked in late July. Before the war, Qatar accounted for about one-fifth of global LNG exports.

The disruption has also affected gas markets. Prices in Europe and Asia have risen to their highest levels in more than three years in recent days after fresh strikes on vessels in the region and continued problems with Qatari LNG exports.

A return of more Qatari LNG cargoes could help buyers, especially in South Asia, where some customers are dealing with shortages and power blackouts.

But LNG shipments leaving the Persian Gulf are still below their earlier level of about three shipments a day.

Qatar Keeps Some LNG Production Going

Qatar has not stopped its LNG operations completely.

The country has continued loading LNG onto empty tankers available inside the Gulf. Some of the gas has been sent to Kuwait.

This has helped Qatar manage its LNG storage and keep parts of its large export facilities running at minimum levels.

Keeping some production going also means the equipment can remain in operation. QatarEnergy can then increase production more quickly if the situation around the waterway improves.

Qatar last month extended force majeure on LNG deliveries to European and Asian buyers into October. This has helped keep gas prices high.

Iran said on Monday that an agreement with Oman on managing shipping through the Strait of Hormuz was close.

The Al Marrouna has now completed the passage through Hormuz, but one tanker does not mean that Qatar’s LNG exports have returned to normal.

References: Bloomberg, ndtvprofit