Global LNG Exports Fall to Two-Year Low

Global exports of liquefied natural gas fell to the lowest in almost two years in April, as the war in the Middle East disrupted flows of the super-chilled fuel through the Strait of Hormuz, Bloomberg reported. Shipments declined to about 33 million tons, the lowest level since May 2024, according to ship-tracking data compiled by Bloomberg. The drop came after Qatar — the second-largest exporter last year — halted production following strikes on the world’s biggest plant by Iran in March, with the damage set to take years to repair. Despite the ceasefire in the war with Iran, the Strait of Hormuz, through which about one-fifth of the world’s oil and LNG supplies pass, remains closed. Since the start of the conflict, only one LNG tanker has transited the strait. Nevertheless, lost volumes have been partially offset by new production elsewhere in the world. According to ship-tracking data compiled by Bloomberg, April shipments were down only 7 percent from the previous year, suggesting that increased output from suppliers, including the United States and Canada, has partially compensated for the reduced volumes from Qatar. In the United States, the massive Golden Pass LNG terminal shipped its first cargo last month. Qatar also delivered some volumes to Kuwait, which can export them without transiting the Strait.