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Ulviyya Poladova

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Qatari companies have recalled liquefied natural gas (LNG) tankers that had been unable to return home after delivering cargoes to Europe due to the closure of the Strait of Hormuz, AzerNEWS reports.

According to the information, the move follows an agreement reportedly reached between the United States and Iran regarding the reopening of the strategic waterway.

The LNG carriers had transported Qatari gas to European storage facilities but were forced to remain at various ports and terminals after the Strait of Hormuz was closed, preventing their return voyage.

Four LNG tankers that had been waiting off the coast of Oman began sailing back to Qatar today. The reopening of the Strait of Hormuz is expected to have implications not only for oil markets but also for global natural gas prices.

For now, gas prices remain relatively stable due to seasonal factors. Currently, natural gas is trading at around $480 per 1,000 cubic meters at the Dutch TTF hub, while prices at the U.S. Henry Hub stand at approximately $135 per 1,000 cubic meters.

According to energy experts, gas prices could begin to decline once the first LNG tanker reaches Europe following the restoration of stability in the Gulf region. Analysts note that there is a significant difference between the cost of pipeline gas and LNG, largely due to transportation expenses.

Before the war in Ukraine, Europe imported substantial volumes of relatively inexpensive Russian pipeline gas. However, after reducing its dependence on Russian supplies, European countries increasingly turned to LNG imports from the United States. With limited alternatives available, U.S. suppliers were able to charge higher prices.

The return of Qatari LNG exports to the market is now seen as a factor that could ease price pressures. However, the process of clearing mines and ensuring safe navigation through the Strait of Hormuz has only just begun and may take considerable time.

Experts also expect that European gas storage facilities could be filled to capacity during the summer months, helping to prevent sharp price increases during the upcoming winter season. The reopening of the Strait of Hormuz is expected to improve the balance between supply and demand in global energy markets, supporting greater price stability in the months ahead.