Qatar Delays LNG Cargoes to South Europe Amid Red Sea Crisis

Qatar, one of the world’s biggest liquefied natural gas exporters, is delaying some shipments to Europe as the crisis in the Red Sea forces longer travel times.

The Middle East country informed some European buyers of delays and rescheduled shipments, according to traders with knowledge of the matter. It’s reshuffling global supply to meet contractual obligations, diverting deliveries from elsewhere and swapping for available cargoes near Europe, the traders said.

Since Jan. 15, Qatar has diverted at least six shipments destined for Europe around the Cape of Good Hope in southern Africa, instead of the shorter route through the Red Sea and the Suez Canal, according to ship-tracking data compiled by Bloomberg. The detours tie up vessels for longer periods than planned, curbing how many are then available for subsequent cargoes. 

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