January 15, 2024 [Reuters]- QatarEnergy, the world’s second largest exporter of liquefied natural gas, has stopped sending tankers via the Red Sea although production continues, a senior source with direct knowledge of the matter told Reuters on Monday.
At least four tankers used to carry Qatari LNG were held up over the weekend after U.S. and British forces responded by carrying out dozens of air and sea strikes on Houthi targets in Yemen.
“It is a pause to get security advice, if passing (through the) Red Sea remains unsafe we will go via the Cape,” the source said. “It is not a halt of production.”
A trader calculated that could add about 1-1.30 euros per megawatt hour (MWh) to the price of the cargo, although it would be partially offset by not paying Suez Canal fees.
Shipowners and managers of the four vessels including Teekay Shipping Glasgow, Pronav Ship Management, Nakilat Shipping Qatar Ltd and Shell’s shipping and chartering arm STASCO also did not immediately respond to requests for comment.
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