Member Corner
The 2026 Middle East conflict has severely disrupted global LNG trade following the blockade of the Strait of Hormuz, a critical chokepoint through which around 20% of global LNG supply transits. As a result, LNG exports from Qatar and the UAE have been halted. Together, the two countries have 83 Mtpa of liquefaction capacity, including 77 Mtpa in Qatar and 6 Mtpa in the UAE. In 2025, they exported 87 Mt, reflecting utilisation above nameplate capacity and highlighting their role as high-output, flexible suppliers. Although their combined share of global LNG trade declined from 34% in 2015 to 20% in 2025 due to rapid capacity expansion in other exporting countries, the sudden removal of these large marginal volumes has significantly tightened global balances, with the impact felt most strongly in Asia.
Read the full feature article titled “Global gas market faces renewed volatility amid Strait of Hormuz blockade”.