At least two cargoes of liquefied natural gas (LNG) have transited the Strait of Hormuz this week, as producers look to boost deliveries to a market grappling with tight supply and soaring prices. Vessel tracking data compiled from market sources shows a carrier that loaded at Qatar's Ras Laffan export facility in late August appeared in the Gulf of Oman earlier this week, indicating it had passed through the contested waterway. The ship did not broadcast its signal while crossing the strait, though jamming and signal disruption in the region is common, complicating efforts to confirm its exact location. Separately, satellite imagery from Copernicus Sentinel-2 shows two more LNG carriers were spotted conducting ship-to-ship transfers off the Omani coast this week, with the images only becoming available after a delay.

These sporadic cargo flows suggest that LNG producers in the Persian Gulf are seeking ways to move more fuel through the Strait of Hormuz, offering some relief to buyers in Asia and Europe. Exports from the region have been largely halted since early July when an Iranian attack targeted a Qatari tanker. The supply crunch has pushed spot prices to their highest levels in over three years, with further upside risk as the Northern Hemisphere winter draws closer. QatarEnergy did not respond to requests for comment.

Satellite data reveals at least three LNG ship-to-ship transfers have taken place off the Omani coast since mid-August. While such transfers have become routine for crude tankers in recent months, they remain far rarer for LNG due to the technical challenges of keeping the fuel at ultra-low temperatures during the operation. The ongoing hostilities in the Middle East are forcing LNG producers to test alternative arrangements.

Buyers in Pakistan and Bangladesh, which depend heavily on natural gas transiting the strait, are watching the situation closely. Every cargo that makes it through represents potential savings, as they may be able to avoid purchasing replacement supply from an expensive spot market. Prior to the conflict, roughly three LNG cargoes passed through the Strait of Hormuz daily, with Qatari exports accounting for about one-fifth of global supply.