US LNG Exporters Plug Qatar-Sized Supply Hole Amid Ongoing Conflict

US LNG exporters have managed to offset the drop in shipments from Qatar after Iranian attacks on its facilities and the closure of key Middle East shipping lanes, ensuring record-high supplies despite the ongoing conflict. According to data from Kpler, US exporters are on track to load a record 32.15 million metric tons of LNG during the first four months of 2026, a 28% increase from the same period in 2025.

The surge in US exports has been led by the Plaquemines LNG terminal, owned by Venture Global, which posted a 240% year-over-year jump in export volumes. The facility loaded nearly 6.5 million tons of LNG during the first quarter, propelling it to the second-largest US export facility.

While the timing has worked in favor of US exporters, potential buyers can now afford to plan their next steps as the initial shock of Qatar's export cuts has been digested. However, gas consumption in top markets for LNG is expected to drop due to mild temperatures, which could reduce import orders from European nations that account for 72% of US exports so far this year.