🔺Trouble for the Islamic Republic in the region; from falling oil and gas exports to a surge in ship insurance

▪While the oil exports of countries in the region have been severely disrupted due to the Islamic Republic’s attacks on ships, Kepler says that, given the blockage of the Strait of Hormuz and damage to some liquefied natural gas units in Qatar, it is expected that the country’s LNG exports this year will fall below 27 million tons.

▪Qatar has 77 million tons of annual liquefied gas exports and last year provided almost one-fifth of the world’s LNG consumption.

▪In March, the Islamic Republic attacked two liquefaction units of Qatar’s Ras Laffan facilities, and restoring these units will take three to five years. The Islamic Revolutionary Guard Corps has also severely disrupted Qatar’s liquefied gas exports by blocking the Strait of Hormuz and attacking ships.