Qatar's liquified natural gas exports plunge 96% from pre-war numbers
Before the war, Qatar supplied nearly one-fifth of the world’s daily LNG (liquified natural gas) demand
Six months after the outbreak of war between the United States and Iran, Qatar has emerged as one of the conflict’s biggest economic casualties. The country’s liquefied natural gas exports have fallen by 96%, according to data analyzed by Reuters.
Since hostilities began, Qatar has exported just 18 LNG cargoes, compared with 509 during the same period a year earlier. Two Qatari LNG carriers have also reportedly been attacked.
The disruption is estimated to have cost Doha nearly $24 billion in revenue, the equivalent of approximately five months of government income, based on 2025 figures.
Before the war, Qatar supplied nearly one-fifth of the world’s daily LNG demand. Unlike several Gulf oil exporters that have managed to move some cargoes through the Strait of Hormuz, Qatar has few alternative routes for exporting its gas.
US producers have increased exports to replace part of the missing Qatari supply, further strengthening America’s position in the global LNG market.
Europe, however, remains particularly vulnerable. The continent’s gas reserves have fallen to a record low for this time of year, raising concerns that prices could surge if it experiences a harsh winter.