Qatar Gathers 12 Empty LNG Tankers in the Gulf Amid Expectations of Increased Exports

At least 12 empty liquefied natural gas (LNG) tankers owned or chartered by QatarEnergy are waiting near Qatar, with a combined capacity of about 1.1 million tons, equivalent to nearly 2% of the global tanker fleet's carrying capacity, according to a Bloomberg analysis based on satellite imagery and ship-tracking data.

The analysis suggests that this gathering may indicate readiness to increase shipments through the Strait of Hormuz. However, it offers no guarantee that these vessels will actually sail after loading, especially as Iranian attacks on ships in the waterway escalate.

A Greek-owned LNG tanker was struck by an unidentified object while sailing near the strait, according to the Athens News Agency citing the Greek Shipping Ministry. QatarEnergy did not respond to a request for comment on these developments.

LNG traffic through the strait in September rose to the highest level since the war began, but it remains about 75% below February levels. Gas prices in Asia and Europe rose to their highest level since late 2022 last month, while India was forced to cut back on some spot purchases to make way for returning Qatari shipments.

What Do These Terms Mean?

Liquefied Natural Gas (LNG): Gas that is cooled to approximately 162 degrees below zero to become liquid, significantly reducing its volume so it can be transported by sea in specialized tankers.

Empty Cargo: A vessel sailing or waiting without cargo, used to restore balance to the transport line before being loaded again.

Strait of Hormuz: The sea passage connecting the Gulf to the Indian Ocean, through which a large percentage of global oil and gas exports pass.