Qatar's LNG Exports Plummet 96% Amid US-Iran War

Qatar's liquefied natural gas (LNG) exports have plummeted by a staggering 96% since the US-Iran war began, according to Reuters calculations and data from ICIS. This sharp decline has made Qatar one of the conflict's biggest economic casualties.

The Gulf state exported just 18 LNG cargoes during this period, compared with 509 in the same time frame a year earlier. The disruption has resulted in an estimated $24 billion loss in gas sales for Qatar, equivalent to around five months of its income based on 2025 figures.

This significant drop in exports has been partly offset by increased shipments from the United States. However, other Gulf energy exporters, including Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait, have also been affected, albeit less severely than Qatar's LNG trade.