QatarEnergy Resumes Hormuz Shipments After US LNG Pivot

QatarEnergy resumed liquefied natural gas exports through the Strait of Hormuz on July 29 as the Al Areesh tanker exited the waterway for the first time since July 11. The vessel is currently transporting cargo from the Ras Laffan terminal to Port Qasim, Pakistan, where it is expected to arrive on July 31. This return to activity follows a period of severe disruption after the Al Rekayyat tanker was struck in early July.

To sustain supplies to key Asian customers during the crisis, the company purchased 33 spot LNG cargoes from the United States for approximately $1 billion. These shipments, acquired from Venture Global LNG and other customers, were necessitated by a force majeure declaration after Iran closed the Strait of Hormuz during a war, blocking 20% of global oil and gas supplies. As of July 30, 28 of these cargoes have been delivered to destinations including South Korea, Taiwan, Bangladesh, India, and Japan, with five remaining en route.

Other maritime activity in the region shows a mixed recovery. The ADNOC Gas-controlled tanker Mraweh reappeared inside the Strait of Hormuz on July 30. Conversely, crude loadings from the Saudi Arabian port of Yanbu dropped by at least 30% last week following a blockade declared by Yemen's Houthis, though some estimates suggest exports continue via dark tanker loadings.