77% drop in Qatar LNG exports; Kuwait became the largest importer

Source link: 77% drop in Qatar LNG exports; Kuwait became the largest importer. At a glance, the sharp drop in exports: Qatar's liquefied natural gas (LNG) exports decreased by 77% in the third quarter of 2026 compared to the same period last year and reached 4.59 million tons. Kuwait's lead: Kuwait imported 2.30 million tons, an increase of 48% compared to last year, for the first time as the largest […] Source site: Safir Arjan

Sharp drop in exports: 77% drop in Qatar's liquefied natural gas (LNG) exports in the third quarter of 2026 compared to the same period last year, reaching 4.59 million tons.

Kuwait's lead: With the import of 2.30 million tons, an increase of 48% compared to last year, Kuwait was recognized for the first time as the largest importer of Qatar's gas and alone the buyer of more than half of the shipments.

The main reasons for the decrease: the crisis in the Strait of Hormuz, the turning off of tracking systems by tankers, the declaration of force majeure by Qatar Energy until November 2026, and a 60% decrease in gas production in this country.

According to official data, Qatar's liquefied gas exports in the third quarter of 2026 decreased by 77 percent or 15.36 million tons compared to the same period last year, and Kuwait alone accounted for more than half of its imports.

This decrease occurs while Qatar's liquefied gas exports have increased by 100% seasonally, compared to around 2.29 million tons in the second quarter of 2026. The main reason for this improvement is not limited to the increase in the number of cargoes passing through the Strait of Hormuz, but also due to the increase in exports to Kuwait, which does not need to pass through this strait.

In the third quarter of this year, Kuwait was the largest importer of Qatar's liquefied natural gas, and its import increased by 64% compared to the previous quarter and by 48% compared to the same period last year.

Despite the relative improvement of Qatar's liquefied gas exports in the third quarter of 2026, this amount is still significantly far from Iran's pre-war level. So that the volume of exports in January was 7.62 million tons, February 6.16 million tons, March 0.78 million tons, April 0.46 million tons, May 0.59 million tons, June 1.24 million tons, July 1.51 million tons, August 1.49 million tons, and September 1.58 million tons.

After hitting an all-time low of less than 0.5 million tonnes in April, Qatar's LNG exports rebounded in the following months, but are still only a fifth of their pre-Strait of Hormuz crisis levels.

July exports topped 1.5 million tons, the highest since the start of the Iran-US war, but were 78 percent below the level of 6.82 million tons in the same month in 2025.

The export in August was also 77% lower than the level of 6.57 million tons in the same month last year. The export volume in September was also 76% less than the 6.55 million tons recorded in the same month in 2025.

The overall decrease, especially in the second quarter of 2026, was reflected in the performance of the first nine months of 2026, so that Qatar's exports decreased by 65% to 21.44 million tons. This figure was about 61 million tons in the same period of 2025.

For the first time, Kuwait topped the list of the largest importers of Qatar's liquefied natural gas in the third quarter of 2026. Kuwait's import is 2.30 million tons, China 0.60 million tons, India 0.56 million tons, South Korea 0.21 million tons, and Thailand 0.16 million tons.

Therefore, the import of liquefied gas from Qatar by Kuwait increased by 46% compared to last year. This figure was about 1.58 million tons in the same period of 2025. In contrast, China's imports fell by almost 87 percent during the third quarter of 2026, compared to 4.62 million tons in the same period last year.

India's liquefied natural gas import from Qatar has also decreased by almost 79% compared to its import in the third quarter of 2025.

Among Qatar's largest importers of liquefied natural gas, South Korea's imports in the third quarter of 2026 decreased by 87% to 0.21 million tons. Also, the import of Thailand, which ranks fifth, has also decreased by 70% compared to last year.

Outside these countries, Qatar exported approximately 0.43 million tons of liquefied natural gas to unknown destinations in the third quarter of 2026, and some tankers turned off their tracking devices to avoid the risk of crossing the Strait of Hormuz.

Pakistan also imported only 0.12 million tons during the third quarter, which is a 92% decrease compared to its import of 1.55 million tons in the same period last year.

In addition, Japan, Taiwan, and the United Arab Emirates imported limited shipments from Qatar during the third quarter, totaling 130,128 and 68,000 tons, respectively.

According to experts, Qatar's LNG export plan has seen a significant change since the outbreak of the Iran war. So that Kuwait is at the top of the list of importing countries and other main markets, especially Japan, Bangladesh and Italy, are also facing a sharp decline.

The Strait of Hormuz crisis forced Qatar Energy Company to declare force majeure status for its shipments to Asia and Europe at least until November 2026 and also to reduce gas production in this country by 60%. This crisis and the difficulties that Doha was facing in accessing its vital markets have had a great economic impact and caused a sharp decrease in Qatar's oil and gas revenues by 56% in the first half of the year and set a record of $9.23 billion.