Qatar's liquefied natural gas exports collapsed by 96% over the past six months, wiping out an estimated $24 billion in revenue, according to an analysis by The Zioneer. The Gulf state's near-total reliance on the Strait of Hormuz for its LNG shipments left it exposed as the conflict with Iran disrupted maritime trade.
The Zioneer publishes a detailed analysis of Qatar's economic toll from the ongoing war with Iran, following an earlier bulletin (Aug 26, 14:17) that reported a 96% collapse in LNG exports based on Reuters. The analysis underscores that Qatar's entire LNG export pipeline depends on the Strait of Hormuz — a chokepoint now heavily contested. While Saudi Arabia and the UAE have alternative overland and Red Sea routes, Qatar has no viable bypass, making it uniquely vulnerable. The $24 billion loss is equivalent to roughly five months of Qatar's 2025 revenue. The data, published today, shows just 18 LNG cargoes departed Qatar in the past six months, versus 509 in the same period last year. The collapse is attributed directly to the U.S.-Iran conflict and the effective blockade of Iranian-controlled waters. Prior reporting from The Zioneer has documented the U.S. naval blockade of Kharg Island and the closure of the Iranian route in the Strait of Hormuz, which has crippled Iranian oil exports and now ensnares Qatari gas. This analysis further highlights that the U.S., a major beneficiary of the supply gap, has seen its own LNG exports surge. The economic damage to Qatar could have long-term implications for its ability to fund foreign aid and internal budgets, as reflected in earlier Zioneer reports on budget cuts of up to 30% and an 85% reduction in foreign aid.
2 developments
- DevelopingThe Zioneer analysis: Qatar's LNG exports collapsed 96% in six months, $24 billion in revenue lost
- DevelopingUS Blocks Qatari LNG Exports Over Use of Iranian Route in Strait of Hormuz, Report Says
- DevelopingTanker Trackers data shows Iran's crude oil exports completely halted since Strait of Hormuz closure
- DevelopingQatar suspends efforts to revive LNG production after Iranian attack on its tanker
Source and signal
- Open-source intake