Qatar LNG Exports Plunge 96% Amid US-Iran Conflict

The ongoing US-Iran conflict has caused significant economic losses for Qatar, one of the world's largest liquefied natural gas (LNG) exporters. Six months into the war, Qatar's LNG exports have been severely impacted, with a 96% drop in shipments.

This has resulted in a staggering loss of $24 billion in gas sales, which is equivalent to about five months' worth of income for the country based on 2025 data, according to Reuters calculations. Before the war, Qatar supplied around one-fifth of the world's daily LNG, but exports from the US have partially offset some of this lost supply.

The Strait of Hormuz, a critical waterway through which much of the world's oil and gas is transported, has been affected by the conflict. While neighboring Gulf exporters such as Saudi Arabia, the UAE, Iraq, and Kuwait have managed to secretly transport oil out of the strait, Qatar has not been so fortunate.

QatarEnergy, the state-owned LNG producer, did not respond to a Reuters request for comment. Two Qatari tankers have been attacked during this period, further exacerbating the country's economic woes.