Qatari Gas Exports Plunge 96% Amid US-Iran Conflict

Qatar's liquefied natural gas exports have plummeted by 96% due to the ongoing US-Iran war, resulting in a loss of $24 billion in sales. This is equivalent to about five months' worth of income for the country based on 2025 data.

The decline in Qatari gas exports has been significant, with only 18 LNG cargoes exported since the conflict began six months ago. In contrast, the US has seen an increase in LNG sales, offsetting some of the lost supply from Qatar.

Before the war, Qatar supplied about one-fifth of the world's daily LNG. However, European gas storage has fallen to a historic low for this time of year, exposing the continent to possible gas price spikes in the event of a cold winter this year.