Ship tracking data from LSEG (London Stock Exchange Group) revealed on Tuesday that four tankers used for Qatari liquefied natural gas shipments have resumed their course after being halted for several days amidst tensions in the Red Sea, due to threats from the Yemeni Houthi group against Israeli ships or those carrying Israeli goods in support of the Gaza Strip, which has been under continuous aggression for more than 100 days.
The tension in the Red Sea had disrupted trade on the primary route between East and West, accounting for about 12% of global shipping traffic.
The data showed that the LNG tanker “Al Rakayat” resumed sailing through the Red Sea on its way to Qatar, after having been stopped since January 13 along its route on the Red Sea.
The ships Ghariya, Al Huwaila, and Al Nuaman, also loaded with Qatari LNG, were moving but altered their course southward, although they were still indicating the Suez Canal as their destination.
Normally, Qatari LNG shipments passing through the Suez Canal are destined for Europe. The three tankers had been stationary off the coast of Oman since January 14.
Data indicated that the estimated arrival date for Al Nuaman had been updated to January 19, instead of a previous two-week delay with expected arrival on February 4. Shell, the owner of Stasco Shipping and Chartering and the manager of Al Nuaman, declined to comment.
LNG tankers are among the many ships forced to take the longer route around Africa via the Cape of Good Hope instead.
Natural Gas Delays
Analysts estimate that the Cape of Good Hope route could add about nine days to the journey, which takes 18 days from Qatar to Europe. The longer route could lead to delivery delays, but gas storage levels in Europe are good.
Standard & Poor’s estimates Qatari LNG shipments through the Suez Canal at 14.8 million metric tons annually, with the U.S. at 8.8 million metric tons and Russia at 3.7 million metric tons.
European benchmark gas prices fell on Monday, as mild weather forecasts and well-filled storage helped offset concerns about maritime shipping.
A senior source familiar with the matter told Reuters on Monday that Qatar Energy (the world’s second-largest LNG exporter) had stopped sending tankers through the Red Sea despite continued production.
In 2023, Qatar exported more than 75 million tons of LNG, according to the data, including 14 million tons to Europe and 56.4 million tons to Asia.
After the United States, Qatar is Europe’s largest supplier of LNG, accounting for about 13% of Western Europe’s consumption last year.
Last Friday, the International Association of Independent Tanker Owners (INTERTANKO), representing approximately 70% of all internationally traded oil, gas, and chemical tankers, urged its members to stay away from the Bab el-Mandeb Strait.
