Qatar delays LNG shipments to Europe amid Red Sea conflict

Qatar delays LNG shipments to Europe amid Red Sea conflict
# 24 January 2024 13:32 (UTC +04:00)

Qatar, one of the world’s biggest liquefied natural gas exporters, is delaying some shipments to Europe as conflict in the Red Sea forces longer travel times, APA reports citing Bloomberg.

The Middle East country informed some European buyers of delays and rescheduled shipments, according to traders with knowledge of the matter. It’s reshuffling global supply to meet contractual obligations, diverting deliveries from elsewhere and swapping for available cargoes near Europe, the traders said.

Since Jan. 15, Qatar has diverted at least six shipments destined for Europe around the Cape of Good Hope in southern Africa, instead of the shorter route through the Red Sea and the Suez Canal, according to ship-tracking data compiled by Bloomberg. That adds about 9 days to the journey to the UK, according to commodity intelligence provider ICIS.

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