New Gulf Coast LNG terminal ships first cargo to Belgium amid Middle East war
Updated
Updated · The Wall Street Journal · Apr 25
New Gulf Coast LNG terminal ships first cargo to Belgium amid Middle East war
12 articles · Updated · The Wall Street Journal · Apr 25
The terminal’s inaugural shipment comes as U.S. crude and petroleum exports hit a record 12.9 million barrels per day, with over 60 supertankers heading to the Gulf Coast.
U.S. LNG exports to Asia and Europe have surged around 30% year-on-year, helping offset supply disruptions caused by the closure of the Strait of Hormuz.
Europe now receives about 60% of its LNG from the U.S., but infrastructure and political concerns may limit long-term reliance as both Asia and Europe seek alternatives and energy independence.
With U.S. export facilities near capacity, can this energy boom last?
Once Middle East supplies stabilize, will Asia abandon costly U.S. energy?
Is Europe trading its Russian energy dependency for an American one?
How do new U.S. trade deals lock in its global energy dominance?
Can Asian refineries technically adapt to lighter U.S. crude oil?
Beyond oil, how is this crisis upending global fertilizer and food supplies?
Middle East Conflict Cuts Qatar LNG Exports by 17%, Golden Pass Provides Critical Relief
Overview
In March 2026, Iranian missile strikes severely damaged Qatar's Ras Laffan LNG facility, cutting its export capacity by 17% and triggering a $20 billion annual revenue loss. This disruption, combined with the closure of the Strait of Hormuz blocking 20% of global LNG shipments, caused an 8-20% global supply reduction and soaring natural gas prices in Asia and Europe. In response, the Golden Pass LNG terminal, a QatarEnergy-ExxonMobil joint venture, shipped its first cargo in April 2026, adding 6 million tonnes per annum of export capacity. While this helps partially offset lost Qatari volumes and supports European energy security, full Golden Pass capacity will only partially close the supply gap amid ongoing market volatility and heightened competition between Europe and Asia.