Qatar Returns Gas Carriers to the Middle East in Preparation for Reopening the Strait of Hormuz

SadaNews - Qatar begins to return some of its liquefied natural gas carriers to the Middle East, as it prepares, as one of the world's largest LNG suppliers, to increase its exports with the reopening of the Strait of Hormuz following an agreement between the United States and Iran.

Tracking data has shown that at least four empty liquefied natural gas carriers owned by Qatar have recently started returning to the region after being idle or heading to other destinations. The data also shows that another ship chartered by Qatar is also on its way to the region.

All of these vessels indicate Ras Laffan, which has the largest LNG export facility in the world and is located in Qatar, as their next destination.

Qatari Tankers Waiting to Cross the Strait of Hormuz

The data indicates that four other vessels associated with Qatar are currently anchored in the Gulf of Oman, waiting for an opportunity to cross the Strait of Hormuz toward the Arabian Gulf. So far, Qatar has not sent any empty tankers into the Gulf since the outbreak of the war in February.

Although the return of these vessels to the region represents only a limited percentage of Qatar's fleet of about 70 tankers, it is an additional indication of the Gulf state’s readiness to increase its production as soon as the Strait of Hormuz is reopened.

Bloomberg reported on Tuesday that Qatar aims to restore most of its export capacity within two months, and providing the necessary tankers to transport the shipments will be a key element in efforts to resume exports.

This move comes as the United States and Iran are expected to finalize the agreement to reopen the waterway as part of efforts to end their war.

Terms of the Anticipated US-Iran Agreement

The interim agreement, scheduled to be signed on Friday, stipulates Iran's commitment to ensure the movement of commercial vessels through the Strait of Hormuz, in exchange for the United States lifting its blockade on Iranian ports. The resumption of LNG exports from Qatar could help alleviate the global supply shortage.

Despite the preliminary peace agreement between the United States and Iran, natural gas prices in Europe and Asia remain higher than their pre-war levels.

Qatar has managed to export a limited number of shipments to buyers in Asia by concealing the locations of some tankers, but these supplies are still well below usual levels.