Hormuz Blockage Puts Qatar's $83 Billion LNG Bet at Risk
QatarEnergy CEO and Qatar Energy Minister Saad al-Kaabi says the Strait of Hormuz crisis could delay the company's LNG expansion because critical equipment cannot reach Qatar, Reuters reported on Monday. North Field East's first production train remains on schedule for the first half of 2027, Al-Kaa
Source: OilPrice.com
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DW NOTE
Qatar built its $83 billion LNG expansion on the assumption that ships could leave. They can't. With Hormuz closed since February and 2,000 vessels stranded in the Gulf, every cubic metre Qatar liquefies has nowhere to go except into storage tanks that will fill in weeks, not months. The kingdom's entire revenue model depends on a strait Iran controls.