Qatar Increases LNG Shipments Amid Hormuz Shipping Slump

Shipping traffic through the Strait of Hormuz remains severely depressed compared to pre-war levels, with only ten commodity vessels transiting the waterway on Wednesday. This is a sharp decline from the 125 daily vessels typical before the US-Israeli war on Iran began on February 28. The Government of Qatar has recently increased liquefied natural gas (LNG) tanker traffic to its highest level in over two months, moving laden carriers toward destinations including India's west coast to help alleviate a global gas supply crunch.

Qatar's increase follows a period of reduced exports that began in early July after a Qatari vessel was attacked. To maintain operational flexibility, Qatar has loaded LNG onto tankers within the Persian Gulf and exported fuel to Kuwait. Energy Minister Saad Sherida Al-Kaabi stated that the Ras Laffan plant can resume operations at undamaged sections within two weeks once the strait fully reopens.

Meanwhile, the Government of Iran is reviewing the United States' response to peace proposals that prioritize the reopening of the strait and the lifting of a US naval blockade on Iranian ports. While a senior Iranian official stated that diplomacy must continue, the President of Iran informed the United Nations General Assembly that Tehran will not surrender to US pressure.