LNG

Qatar’s attempt to revive LNG exports through the Strait of Hormuz is becoming as much a shipping and crewing problem as an energy-supply challenge. In the four weeks after the first Qatari LNG carrier crossed the waterway on September 10, about 20 laden tankers exited Hormuz, though transits volumes still are at roughly one-third of pre-war levels.

Malaysian shipping group MISC has accepted a letter of award from Petronas for the charter of five additional LNG carriers, committing to a newbuilding programme at China’s Hudong-Zhonghua, with construction due to begin in 2027 and deliveries targeted for 2030.

Turkey’s state pipeline operator BOTAS has launched a tender for a 940-day charter of one LNG carrier. Deadline for submitting bids is October 15, at 15:00 local times.

The arbitrage for U.S. LNG cargoes is now favouring deliveries to Europe over northeast Asia, according to Spark Commodities, as shipping costs and regional price spreads render Atlantic-to-Pacific deliveries uneconomic for the remainder of 2026.

Singapore LNG Corporation (SLNG) is pressing ahead with a second LNG import terminal. Over 95% of Singapore's electricity generation is fuelled by imported LNG, hence Singapore’s trade & industry ministry supports SLNG’s drive to get a second FSRU into operations by the early 2030s.

The UK government is actively considering chartering or funding a floating storage and regasification unit (FSRU) to shore up gas storage and import capacity amid warnings the country could face supply shortfalls by the 2030s. The option emerged in the government’s response to a consultation by the Department for Energy Security and Net Zero (DESNZ) on gas supply security, which found the market alone is unlikely to deliver sufficient resilience against high-impact stress scenarios.

Qatar is repositioning LNG carriers back into the Middle East Gulf as loadings resume and is understood to be seeking short-term charter coverage. Offtakers are counting on QatarEnergy’s promise to reinstate at least half of Ras Laffan production capacity within a month of safe passage through the Strait of Hormuz being restored.

Long-term LNG charters – not spot cargoes – are buyers’ favourite, once again, as they provide greater protection against freight rate spikes and shipping disruptions. This trend could tighten global LNG carrier availability for years to come.

QatarEnergy CEO Saad al-Kaabi has identified shipping logistics as the biggest hindrance to resuming LNG exports from Ras Laffan once the Strait of Hormuz reopens, underlining tight tanker availability and routing constraints may impact the recovery of one of the world’s largest LNG export terminals.

Malaysia’s Petronas has signed 20‑year time charter agreements with MISC Group for five newbuild LNG carriers, with deliveries due to begin in 2029 and continue into 2030.