Iran Knocks Out 20% of Global LNG Supply by Blocking Hormuz, Striking Qatar Hub
Updated
Updated · The New York Times · Jun 4
Iran Knocks Out 20% of Global LNG Supply by Blocking Hormuz, Striking Qatar Hub
3 articles · Updated · The New York Times · Jun 4
Summary
About a fifth of global LNG supply was knocked off the market after Iran blocked the Strait of Hormuz and, two weeks later, struck Qatar’s Ras Laffan export hub.
Qatar ships virtually all of its LNG through Hormuz, and damage at Ras Laffan could take years to repair, turning a chokepoint disruption into a prolonged supply shock.
Asian buyers were hit first: gas prices surged as Pakistan, Bangladesh, India, Singapore and Taiwan lost access to supplies from a country that provided from a third to nearly all of their LNG.
The shock exposed a structural weakness years in the making, with the United States and Qatar expected to dominate most LNG supply growth by 2030 and leaving importers vulnerable if either supplier faltered.
With the Strait of Hormuz closed, what deal will restore a fifth of the world's LNG supply?
As Qatar faces years of repairs, which energy superpower will emerge to fill Asia's massive supply gap?
Is this energy crisis secretly accelerating the world's permanent transition away from all fossil fuels?
How the 2026 Strait of Hormuz Blockade Triggered a Worldwide Energy and Food Crisis
Overview
In early 2026, the US and Israel launched a military campaign against Iran, leading to sustained strikes and a broader regional confrontation. Iran retaliated by closing the Strait of Hormuz and escalating attacks on vital oil and gas infrastructure, causing severe disruptions to global energy transit routes. This triggered a massive energy supply shock that quickly spread from South Asia to Europe, with Brent crude prices projected to soar. The crisis also put key facilities like Qatar’s Ras Laffan complex at risk, highlighting the vulnerability of global energy markets and the far-reaching economic impact of the conflict.