Story perspectives

Iran Closes Strait, Halting Qatari LNG, Prices Surge Sixfold

4/29/2026

Summary

Iran Closes Strait

Iran's war closed the Strait of Hormuz, cutting off an liquefied natural gas (LNG) source.
The closure halted Qatari LNG shipments for two months, sending Europe-Asia prices to six times U.S. natural-gas rates since Feb. 28 and leaving U.S. LNG exporters unable to add supply.
Analysts warn U.S. projects will not replace Qatari gas, forcing rationing and leaving Italy, Taiwan and South Korea, dependent on the fuel for power, in pain.

Summary

U.S. LNG Record

U.S. LNG exporters aim to load a record 32.2 million metric tons in the first four months of 2026, offsetting 6.9 million tons of Qatar supply.
Venture Global’s Plaquemines terminal loaded almost 6.5 million tons in Q1, a 240 % increase.
Cheniere Energy’s Sabine Pass shipped 7.9 million tons in Q1, about one-quarter of U.S. LNG exports.
Kinder Morgan reported an 8 % Q1 rise in natural-gas transport, mainly from LNG deliveries, and plans pipeline expansion.

Summary

U.S. LNG Boom

The war has pushed LNG prices higher, forcing major importers to face higher fuel costs.
U.S. LNG exporters are experiencing a sales boom as they fill the supply gap.
Terminal operators and gas-pipeline firms are projected to enjoy revenue growth after the war.
Analysts consider U.S. LNG infrastructure a compelling long-term investment opportunity.
Importers are expected to increase long-term sourcing of U.S. LNG, boosting demand for assets.

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Iran Closes Strait

Iran's war closed the Strait of Hormuz, cutting off an liquefied natural gas (LNG) source.
The closure halted Qatari LNG shipments for two months, sending Europe-Asia prices to six times U.S. natural-gas rates since Feb. 28 and leaving U.S. LNG exporters unable to add supply.
Analysts warn U.S. projects will not replace Qatari gas, forcing rationing and leaving Italy, Taiwan and South Korea, dependent on the fuel for power, in pain.

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