Qatar is one of the world's largest LNG exporters, with the North Field development driving capacity expansion. Qatari LNG cargoes ship primarily to Asian buyers via the Strait of Hormuz, making the country highly exposed to Persian Gulf disruption.
Current Context
Current state (May 22, 2026): Qatar was among the Gulf states that asked Trump to call off Tuesday’s planned Iran strike. Qatari LNG exports remain disrupted as part of the broader Persian Gulf shutdown that began February 28. EIA’s May STEO notes global LNG prices remain elevated as a result of reduced energy flows through the Strait of Hormuz. Qatar’s economy minister attended the G7 Paris meeting (concluded May 19) as an invited guest. Drones struck Qatari waters in mid-May (UAE and Kuwait intercepted Iranian drones same day). JKM and TTF benchmarks elevated.