Qatar ramps up LNG exports as prices surge and winter inventories dwindle

QatarEnergy restored shipments to about a third of prewar levels in September, using ship-to-ship transfers to move cargoes

By LineZotpaper

Published20 October 2026

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Qatar is ramping up liquefied natural gas exports as prices surge and inventories dwindle ahead of the Northern Hemisphere winter, with shipments restored in September to about a third of prewar levels, Bloomberg reported. The restored flows could help cool consumer prices and slow the decline of an economy the IMF expects to contract by 15.6 percent this year.

Signs of the ramp-up include one LNG tanker now sailing toward Poland through the Red Sea, and at least 20 more shipments passing through the Strait of Hormuz to other destinations since early September, according to Bloomberg.

Exactly how the gas is getting out remains unclear. Qatar's prime minister said last month that buyers had negotiated passage with Iran for the few cargoes that made it through during the first six months of the war. Doha also appears to have adopted the "Hormuz shuttle" strategy that Gulf crude exporters are using, which involves transferring cargoes at sea.

Bloomberg tracked Al Rayyan, one of Qatar's oldest LNG tankers, transferring its load to another vessel in the Gulf of Oman before returning to Ras Laffan to reload. Such transfers are more complex for LNG than for oil, requiring cryogenic hoses to handle gas chilled to minus 162 degrees Celsius (minus 260 degrees Fahrenheit).

The effort appears to be paying off. The restored volumes remain well below prewar levels, but they come as buyers face rising consumer prices and depleting inventories ahead of winter. The flows could also slow the decline of Qatar's $200 billion economy, which the International Monetary Fund forecasts will contract by 15.6 percent this year.

Analysis

Why This Matters

Northern Hemisphere buyers enter winter with low inventories and surging prices, making restored Qatari supply a rare source of relief.
Qatar's economy is forecast by the IMF to contract by 15.6 percent this year, so every cargo that leaves Ras Laffan carries weight.
The tactics now in use, including ship-to-ship transfers and negotiated passage, could become a template for moving Gulf energy during wartime.

Background

Qatar is one of the world's largest LNG exporters, and most of its shipments must pass through the Strait of Hormuz and the Gulf of Oman to reach global markets. The reporting describes a war now in at least its sixth month that disrupted that route and cut exports sharply. To keep cargoes moving, Doha appears to have combined negotiated passage with the shuttle transfer strategy already used by Gulf crude exporters, even though moving LNG at sea is far more demanding than moving oil.

Key Perspectives

Qatar's government: The prime minister has said buyers negotiated passage with Iran for the cargoes that got through early in the war, and Doha now appears to be operating shuttle transfers out of Ras Laffan.
Shipping trackers (per Bloomberg): The Al Rayyan's cargo transfer and return suggests the strategy is working, with September exports restored to about a third of prewar levels.
Critics and skeptics: The concerns are noted in the reporting itself: LNG ship-to-ship transfers require cryogenic equipment and precise handling, the route still depends on wartime passage through contested waters, and the restored volumes remain well short of normal.

What to Watch

Whether the flow of tankers through the Strait of Hormuz and the Red Sea continues to rise as winter demand peaks.
How quickly QatarEnergy can push monthly cargo volumes back toward prewar levels.
Whether restored exports slow the surge in consumer prices and soften the IMF's forecast contraction for Qatar's economy.

Sources

Qatar is ramping up liquefied natural gas exports as prices surge · Semafor

Checked

12 claims in this story checked against 1 source: 11 supported.

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SupportedQatar is ramping up LNG exports as prices surge and inventories dwindle ahead of the Northern Hemisphere winter.Semafor: “There are more signs that Qatar is ramping up liquefied natural gas exports as prices surge and inventories dwindle ahead of the Northern Hemisphere winter.”
SupportedQatarEnergy restored LNG exports in September to about a third of prewar levels.Semafor: “QatarEnergy restored LNG exports in September to about a third of prewar levels, Bloomberg reported.”
Partly supportedQatarEnergy used ship-to-ship transfers to move cargoes.Semafor: “Bloomberg tracked the vessel transferring its cargo to another ship in the Gulf of Oman before returning to Ras Laffan to reload.”
SupportedThe restored flows could help cool consumer prices.Semafor: “The gas could help halt the surge in consumer prices”
SupportedThe IMF expects Qatar’s economy to contract by 15.6% this year.Semafor: “Qatar’s $200 billion economy, which the IMF expects to contract by 15.6% this year.”
SupportedOne LNG tanker is sailing toward Poland through the Red Sea.Semafor: “One tanker is now sailing toward Poland through the Red Sea, according to Bloomberg”
SupportedAt least 20 more shipments have passed through the Strait of Hormuz to other destinations since early September.Semafor: “at least 20 more shipments have passed through the Strait of Hormuz to other destinations since early September.”
SupportedQatar’s prime minister said buyers negotiated passage with Iran for the few cargoes that got through during the war’s first six months.Semafor: “Qatar’s prime minister said last month that buyers had negotiated passage with Iran for the few cargoes that made it through during the first six months of the war.”
SupportedDoha appears to have adopted the “Hormuz shuttle” strategy used by Gulf crude exporters.Semafor: “But Doha also seems to have adopted the “Hormuz shuttle” strategy Gulf crude exporters are using.”
SupportedBloomberg tracked Al Rayyan transferring its load to another vessel in the Gulf of Oman before returning to Ras Laffan to reload.Semafor: “Tracing the journey of Al Rayyan, one of Qatar’s oldest LNG tankers, Bloomberg tracked the vessel transferring its cargo to another ship in the Gulf of Oman before returning to Ras Laffan to reload.”
SupportedLNG ship-to-ship transfers are more complex than oil transfers and require cryogenic hoses for gas chilled to minus 162°C (minus 260°F).Semafor: “LNG ship-to-ship transfers are more complex than oil transfers, requiring cryogenic hoses to handle gas chilled to minus 162 C (minus 260 F).”
SupportedQatar’s economy is valued at $200 billion.Semafor: “Qatar’s $200 billion economy”