Qatar Resumes LNG Shipments Through Strait of Hormuz

Qatar has resumed LNG shipments through the Strait of Hormuz after suspending them in July following an attack on one of its tankers. A tanker loaded with LNG, Al Marrouna, passed through the Gulf of Oman on Tuesday morning and signalled Port Qasim in Pakistan as its next destination.

The move is a welcome relief for the global LNG market, which has seen fuel prices soar across European and Asian markets to their highest levels in over three years. Qatar accounted for one-fifth of the world's LNG exports before the US-Iran conflict escalated, putting huge strains on the supply chain.

Qatar had instructed its tankers to avoid the Strait of Hormuz after the July attack, but has now resumed shipments under a new strategy that allows it to manage storage and keep parts of its export complex running at minimum levels. The move may impact prices, with Iran saying that a deal to manage the Strait of Hormuz is 'very, very close'. However, no concrete details have been provided.