Qatar plans to resume production and export of liquefied natural gas in a few weeks
Qatar has begun preparing its tanker infrastructure and plans to restore liquefied natural gas (LNG) production to normal levels within a few weeks.
These positive developments in the energy sector of the country—which is the world’s second-largest LNG exporter—became possible following the signing of a memorandum of understanding between the United States and Iran.
At the start of the armed conflict, Qatar’s gas facilities came under heavy attack from Tehran, forcing the state-owned company QatarEnergy to declare force majeure. According to the head of government, the mobilized teams of specialists are already completing restoration work, so with the exception of the directly damaged plant, all other infrastructure will be operating at full capacity as soon as the security situation in the Strait of Hormuz is finally stabilized.
Qatar, together with Pakistan, served as the main mediator in the recent high-level talks between Washington and Tehran in Switzerland. To minimize risks and ensure the safe clearance of the waterway, the Qatari side proposed establishing a direct “hotline” between the U.S. and Iran to help coordinate the movement of civilian vessels and counter disinformation. Despite optimistic forecasts regarding the resumption of shipping, Al-Thani warned that the global economy will feel the effects of this crisis for a long time to come: a severe shortage of fertilizers, urea, helium, and petrochemical products is expected on the global market this fall.
This was reported by the Financial Times, citing an official statement by Qatar’s Prime Minister, Sheikh Mohammed bin Abdulrahman al-Thani.
Fertilizer exports through the Strait of Hormuz have risen to pre-war levels, according to Bloomberg.
Global oil prices fell sharply on Thursday, June 19, amid reports of an agreement between the U.S. and Iran. Brent futures fell to $77.96 per barrel, while WTI futures dropped to $74.96, their lowest levels since late February.
