U.S. liquefied natural gas exporters Cheniere Energy and Venture Global continue to benefit from the ongoing disruption of Qatari LNG flows through the Strait of Hormuz. Both companies are operating their U.S. Gulf Coast export terminals at near-capacity levels, with combined U.S. LNG exports running close to 14 Bcf/d.
Qatar accounts for roughly 20% of global LNG supply. With Hormuz functionally closed and the U.S. naval blockade of Iranian ports continuing, Qatari loadings remain constrained. European buyers — who had increasingly relied on Qatari cargoes to diversify away from Russian pipeline gas — have returned to premium bidding for U.S. volumes, pushing up both JKM (Asian) and TTF (European) benchmark prices.
Cheniere operates the Sabine Pass facility in Louisiana and Corpus Christi in Texas. The company has indicated it can sustain current export rates through the conflict and is evaluating additional capacity expansions as long-term customers lock in higher take-or-pay volumes. Venture Global’s Calcasieu Pass and Plaquemines facilities are similarly committed.
The European Union’s transport commissioner said Tuesday the bloc is preparing guidance to airlines on handling airport slots, passenger rights, and public service obligations in the event of jet fuel shortages — a downstream consequence of continued Middle East refinery disruptions. German Economy Minister Katherina Reiche said jet fuel supplies are not yet in danger but that the government is monitoring the situation.
U.S. LNG equities outperformed the broader energy sector Tuesday as investors priced in continued premium pricing. NextDecade and other projects at various stages of development have reported strong interest from European offtakers seeking to secure supply for the 2027-2030 period, when several major new capacity additions are scheduled to come online.