Qatar's LNG Exports Plummet by 96% Amid U.S.-Iran War

Qatar's liquefied natural gas (LNG) exports have plummeted by 96% since the start of the U.S.-Iran war, resulting in a loss of $24 billion in gas sales. This is equivalent to five months of Qatar's income based on 2025 figures.

The country has managed to export only 18 LNG cargoes during this period, a sharp drop from 509 in the same timeframe last year, as reported by data intelligence firm ICIS. Two Qatari tankers have been attacked during the conflict.

Before the war, Qatar supplied about one-fifth of the world's daily LNG, and exports from the U.S. have partially compensated for the lost supply. However, European gas storage has fallen to a historic low for this time of year, raising concerns about potential price spikes if the coming winter is cold.