Hormuz LNG Shipments Hit Seven-Month High Amid Global Energy Crisis

Liquefied natural gas (LNG) shipments through the Strait of Hormuz reached a seven-month high in September, but the global energy crisis is far from over. According to S&P Global Energy and Kpler, 19 LNG cargoes left the strait in September, with 13 coming from Qatar and 6 from the United Arab Emirates.

This is still significantly lower than pre-war levels, with only about 25% of the usual volume expected if the current pace continues through October. Even so, US LNG exports are averaging 17.0 billion cubic feet per day this year, helped by Golden Pass LNG, which shipped its first cargo on April 22.

The Northern Hemisphere heating season is approaching, and Qatar has extended its LNG force majeure due to the disruptions. Whether transits last through winter depends on whether Iran escalates in response to higher exports and whether US naval-escorted convoys continue despite high operating costs.