Qatar LNG Loses Billions as War Strands Rasheeda for 2 Months
Updated
Updated · The New York Times · May 14
Qatar LNG Loses Billions as War Strands Rasheeda for 2 Months
1 articles · Updated · The New York Times · May 14
More than two months after loading LNG, the tanker Rasheeda is still circling near the Strait of Hormuz, underscoring how Qatar’s gas exports remain effectively frozen.
Nearly 11 weeks of Middle East war and Iranian strikes damaged critical energy infrastructure, while the closed strait shut down even intact facilities because fuel could not move out.
Billions of dollars in lost revenue have hit Qatar, one of the world’s biggest LNG exporters, and the disruption has fed energy shortages beyond the Gulf.
Ships have sought unusual escape routes — from diplomatic interventions to flying hand-stitched Pakistani flags — showing how little normal commercial shipping channels can do while the waterway stays blocked.
With the world’s largest LNG hub offline for years, can a global economic catastrophe be avoided?
As a U.S. blockade paralyzes the Gulf, what is the ultimate endgame for the warring nations?
Beyond gas prices, how is the Mideast conflict threatening global food security and the tech industry?
LNG Supply Disrupted: How the 2026 Middle East Conflict and China’s Hormuz Deal Redefined Global Energy Security
Overview
In early 2026, escalating conflict between Israel and Iran led to tit-for-tat strikes on energy plants, causing energy prices to spiral. Iran’s actions, including direct attacks and operational disruptions, incapacitated two of Qatar’s LNG trains, removing 12.8 million tonnes per year from global supply. The crisis forced the closure of the Strait of Hormuz to Qatari LNG exports, creating a severe bottleneck for global energy. As a result, 14 LNG cargoes were trapped in the Gulf, leading to operational paralysis and exposing the vulnerability of global energy markets to regional instability.