Disruption in Global LNG Supply as Qatari Tankers Idle Across Asia

Original: Qatar’s LNG tankers are idling across Asia

The Economic Times•Apr 6, 20262 min

In a Nutshell

Over 40 empty liquefied natural gas (LNG) tankers from Qatar are currently idling in various locations across Asia due to a shutdown of the nation's LNG export plant following drone attacks. This disruption is significantly impacting the global LNG market and forcing some countries to reduce consumption.

Key Points

01More than 40 Qatari LNG tankers are idling across Asia.
02The shutdown of Qatar's LNG export plant is due to Iranian drone attacks.
03The Strait of Hormuz is largely closed, affecting LNG traffic.
04The disruption has forced some nations to cut LNG consumption.
05There are over 800 LNG tankers operating globally.

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Full Summary

Currently, over 40 empty Qatari liquefied natural gas (LNG) tankers are idling across Asia, as Qatar's LNG export plant remains shut following an Iranian drone attack in early March 2023. This incident has significantly disrupted the global LNG market, with the Strait of Hormuz, a critical waterway for LNG transport, largely closed due to ongoing conflicts in the region. The attacks have left Qatar's vast fleet of tankers without orders, illustrating the scale of the disruption. As a result, some countries have been forced to cut their LNG consumption. According to the International Group of Liquefied Natural Gas Importers, there are currently more than 800 LNG tankers in operation worldwide, highlighting the impact of this crisis on global supply chains.

Key Figures

40

Number of empty Qatari LNG tankers idling

800

Total number of LNG tankers operating worldwide

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Why It Matters

This disruption in LNG supply could lead to increased energy prices and reduced availability for countries reliant on Qatari LNG, affecting consumers and industries.

Who is affected

Countries dependent on LNG imports, consumers, and industries relying on natural gas.

What to know

Governments and businesses should explore alternative energy sources and prepare for potential price increases.

FAQ

The plant was shut down following an Iranian drone attack in early March 2023.

The disruption has left many Qatari LNG tankers idling and forced some nations to reduce their LNG consumption.

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