At least 12 empty QatarEnergy carriers are waiting near Qatar. Bloomberg estimates their combined capacity at about 1.1 million tonnes of LNG.
Bloomberg said satellite imagery and ship-tracking data show a cluster of empty LNG carriers in waters near Qatar. The agency described this as a possible sign that the country is preparing to increase liquefied natural gas shipments through the Strait of Hormuz.
At least 12 vessels owned or chartered by QatarEnergy could load about 1.1 million tonnes of LNG, Bloomberg estimated. That is roughly 2% of the total capacity of the global LNG tanker fleet.
More supply could ease pressure on prices. Gas prices in Europe and Asia reached record levels last month, the highest since 2022. Asian spot prices this year rose to about $30 per million British thermal units, compared with about $10 before the war.
LNG carrier traffic through Hormuz reached its highest level since the Iran war began in late February in September, but remained 75% below pre-war levels. Bloomberg said the rise surprised some buyers. India, for example, cut some spot purchases to make room for Qatari cargoes to return.
Markets are watching whether the increase in supply will continue as winter approaches. Qatar is one of the world’s largest LNG exporters.