A new world order emerges in LNG shipping
The near-paralysis of Gulf LNG exports has redirected cargoes and pushed European gas prices to their highest levels since 2022, while only five confirmed LNG carrier transits of Hormuz were recorded last week against a four-week average of 12. Italy’s Edison received force majeure notices covering 35 Qatari LNG cargoes with deliveries suspended until early December, and US terminals dispatched 2.5m tonnes across 36 cargoes last week. Oman displaced the US as India’s largest LNG supplier in September, with 590,000 tonnes arriving from Oman compared with 340,000 tonnes from the US.
Why it matters: The reordering of LNG trade flows shows how a regional chokepoint disruption can reshape energy security and shipping demand across the Atlantic and Pacific.