Qatar LNG Deliveries Halted Until October Amid Ongoing Conflict

QatarEnergy has informed customers via Bloomberg that it will continue to halt LNG deliveries until at least October and possibly into early November. The decision comes as a result of ongoing conflict in the Middle East, which makes it difficult to ship LNG through the Strait of Hormuz.

The strait normally handles a fifth of the world's LNG shipments, primarily from Qatar. However, the situation has been complicated by an Iranian attack on Ras Laffan, the world's largest LNG facility, in March. According to Qatar, it will take years for the site to return to full capacity.

The delivery halt has already led to a significant increase in LNG prices in Europe and Asia, with prices nearly doubling since the start of the US-Israeli conflict against Iran at the end of February. This has also slowed down the filling of European winter reserves this summer.