Qatar LNG Exports Plummet 96% Amid US-Iran Conflict

Qatar's liquefied natural gas (LNG) exports have plummeted by 96% since the start of the US-Iran conflict, making it one of the biggest economic casualties of the war. Data shows that Qatar has exported just 18 LNG cargoes in the six months leading up to the current situation, down from 509 in the same period last year.

According to calculations by Reuters, Qatar has lost $24 billion in gas sales, which is equivalent to about five months' worth of income for the country based on 2025 data. The significant decline in exports comes despite neighboring Gulf exporters, such as Saudi Arabia and the UAE, managing to secretly transport oil out of the Strait of Hormuz.

Two Qatari tankers have been attacked, contributing to the decrease in LNG exports. State-owned QatarEnergy did not respond to a request for comment from Reuters. Before the conflict, Qatar supplied about one-fifth of the world's daily LNG, and some of that lost supply has been offset by increased exports from the US.

However, European gas storage has fallen to historic lows for this time of year, exposing the continent to possible price spikes in the event of a cold winter. The decline in LNG exports has significant implications for global energy markets and could lead to increased prices and supply chain disruptions.