Aerial view of the Strait of Hormuz
How Hormuz chokehold threatens LNG buyers
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
QatarEnergy confirmed on 2 March it had halted production of LNG following military strikes against its facilities in Ras Laffan, responsible for around a fifth of global LNG exports. Earlier, the country’s defence ministry confirmed a drone launched from Iran had targeted a power plant at the LNG hub, without specifying whether any damage had been sustained. As the US and Israel continue strikes against Iran, Tehran has warned that vessels will not be allowed passage through the Strait of Hormuz—the only way Qatar can export its roughly 80mt/yr of LNG cargoes to open waters. And numerous LNG carriers are reported to be either anchored in open waters outside the strait or stuck on the opposi
Also in this section
23 March 2026
A complex and sometimes contradictory web of factors that include unpredictable oil prices, the globalisation of LNG markets, the expansion of Middle Eastern sovereign capital and the growth of datacentre demand will shape the energy landscape beyond 2026
23 March 2026
The Strait of Hormuz crisis highlights how key waterways can become global chokepoints
20 March 2026
Attacks on key oil and LNG assets across the Gulf mean a prolonged supply disruption, with damage to Qatar’s export capacity undermining confidence in the global gas system
20 March 2026
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
