Key Takeaways
- A Qatari liquefied natural gas tanker has passed through the Strait of Hormuz for the first time since July.
- The Al Marrouna is heading to Pakistan’s Port Qasim and could arrive as early as Thursday.
- Qatar had halted LNG shipments through Hormuz after one of its tankers was attacked in late July.
A Qatari liquefied natural gas (LNG) tanker, the Al Marrouna, has passed through the Strait of Hormuz for the first time since July, according to Bloomberg. The vessel, which loaded its cargo in Qatar early last month, was in the Gulf of Oman on Tuesday and was signaling Port Qasim as its destination.
Ship tracking data indicates that the tanker kept its transponder active while crossing Hormuz, providing a visible indication that the cargo had successfully passed through the waterway. The Al Marrouna could arrive in Pakistan as early as Thursday, marking a significant development in the country’s LNG imports.
Prior to this shipment, Qatar had largely halted LNG shipments through Hormuz after one of its tankers was attacked in late July. The attack disrupted the country’s exports, which had accounted for about one-fifth of global LNG exports before the conflict. This disruption was particularly significant for international gas markets.
Despite the latest shipment, LNG exports from the Persian Gulf remain below pre-war levels, with about three cargoes a day being exported. Qatar has also extended force majeure on LNG deliveries to European and Asian buyers through October, keeping pressure on global supplies and prices.
Qatar has continued loading LNG onto available tankers inside the Gulf and sending some cargoes to Kuwait. This approach has allowed QatarEnergy to manage storage levels while keeping parts of the country’s large LNG export facilities operating at reduced capacity.
The development is closely watched by traders, as any arrangement for managing shipping through the Strait of Hormuz could affect Iran’s control over traffic through the waterway and influence the response from the United States.
Iran has stated that an agreement with Oman to manage shipping through the Strait of Hormuz could be reached within days. Traders are closely monitoring the situation, as it could have significant implications for regional and global energy markets.
