Hormuz LNG Shipping Resumes as Gas Prices Approach 2022 Peak

Reports indicate that LNG tankers from Qatar and the United Arab Emirates (UAE) have begun passing through the Hormuz Strait again. Gas prices are nearing peak levels seen during the 2022 supply crisis as winter demand approaches, making the pace of supply recovery a key variable. Oilprice reported that Qatar and UAE are once more transporting LNG cargoes through the Hormuz Strait. The International Energy Agency (IEA) noted that LNG shipments passing through the Hormuz Strait account for approximately 20% of global supply. The IEA assumes Qatar and UAE's LNG supply will gradually increase between July and October 2026. However, Timera Energy cautioned that it is too early to determine if the resumption of shipping has fully normalized, with winter gas price surge risks remaining.