Summary

Record-high U.S. LNG exports have managed to mitigate so far the shock supply loss from Qatar, but American exporters are unlikely to continue running facilities at full capacity for all of this year as maintenance and hurricane season are likely to curtail some supply in the coming months. Qatar’s LNG is offline, and so are the UAE exports, due to the closure of the Strait of Hormuz, where no LNG tanker has transited since the war began at the end of February.

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