Liquefied petroleum gas (LPG) storage tanks in Pinto, near Madrid, March 5, 2026. OSCAR DEL POZO/AFP
The global battle for gas is underway, with Europe on the front lines. Since Wednesday, March 4, at least four liquefied natural gas (LNG) tankers – factory ships with large refrigerated tanks used to transport LNG over long distances – suddenly changed course. Initially headed for France, Belgium or Spain from Africa and the United States, they rerouted for Asia, according to data from the maritime analytics company Kpler.
The Middle East war, now in its second week as of Saturday, March 7, has crippled gas trade: No cargoes are passing through the Strait of Hormuz, the maritime chokepoint through which about 20% of global LNG typically transits daily. In Qatar, the world’s largest LNG plant has been shut down since Monday after sustaining an Iranian drone strike.
Even if the conflict were to end immediately, a return to normal delivery cycles would take “weeks to months,” warned Qatar’s Energy Minister Saad Al-Kaabiof in an interview with the Financial Times on Friday. Al-Kaabi also warned Europe, despite not being the region’s main customer, to brace for a serious backlash, as Asian buyers will be ready to outbid for any available gas on the market.
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