Bloomberg: Cost of Atlantic gas tankers jumps 100 percent

Bloomberg News reported on Tuesday that the cost of natural gas tankers in the Atlantic Basin has risen by 100 percent following Qatar’s suspension of liquefied natural gas production, due to the Israeli-American war on Iran and Tehran’s response. The agency cited sources it described as knowledgeable (but did not name) as saying that the cost of chartering a natural gas tanker in the Atlantic basin exceeded $200,000 per day, an increase of about 100 percent compared to previous levels.               The sources explained that the sharp jump in shipping rates came the day after the state-owned “Qatar Energy” announced the suspension of liquefied natural gas (LNG) production and related products following an attack on operational facilities, according to the Qatari news agency “QNA.”        According to its website, the company operates 14 liquefied natural gas production lines with a total annual production capacity of 77 million tons, making it the world’s largest producer of liquefied natural gas.Against this backdrop, European gas prices continued to rise during Tuesday’s trading, surpassing 50 euros per megawatt-hour on the Dutch exchange—their highest level since February 2025—amid fears of supply disruptions, according to CNN.The Strait of Hormuz is located at the entrance to the Persian Gulf and connects oil and LNG production in the Middle East to the Sea of Oman and the Indian Ocean, and from there to global markets.About 20 percent of the world’s daily oil consumption—nearly 20 million barrels—passes through the strait, mostly from Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, and Iran Experts say that a long-term closure of the Strait of Hormuz is unlikely, but they warn that any potential permanent closure could push prices to record levels.