Strait of Hormuz Disruptions Boost Natural Gas Stocks

The ongoing standoff in the Strait of Hormuz has created significant disruptions in global LNG trade, benefiting several natural gas companies. Iran's attack on Qatar's Ras Laffan complex in March knocked out 17% of the country's LNG export capacity, leading to a surge in demand for alternative suppliers. Cheniere Energy has capitalized on this situation, shipping more LNG than the previous year and raising its 2026 guidance for the second consecutive quarter.

Venture Global Inc. (NYSE: VG) has seen a remarkable turnaround, with net income jumping 266% to $1.3 billion in Q2 on $4.6 billion in revenue. The company's business model, which focuses on selling LNG into the spot market, has proven advantageous amid the current market volatility. ConocoPhillips recently signed a 20-year deal with Venture Global, reflecting confidence in the company's ability to deliver LNG at scale.

APA Corp. (Nasdaq: APA) has also benefited from the crisis, despite initially paying buyers to take its natural gas. The company's deal with Cheniere, which pegs prices to international LNG benchmarks, has generated significant cash flow. APA expects to clear about $950 million in pretax cash flow from gas trading this year.

Golar LNG Ltd. (Nasdaq: GLNG) has been another beneficiary, with its floating liquefaction vessel earning back its conversion cost and generating substantial EBITDA. The company is betting on increased demand for floating LNG capacity, especially as countries seek alternatives to traditional export terminals.

Equinor ASA (NYSE: EQNR) has seen strong results from its piped gas in Europe, fetching $15.79 per MMBtu compared to just $1.96 in the U.S. The company's trading results have also been robust, leading to a doubling of its 2026 buyback to $3 billion.

Antero Resources Corp. has reminded investors of the importance of propane exports from the Persian Gulf, highlighting another aspect of the region's energy trade.