{"id":613495,"date":"2024-01-16T00:00:00","date_gmt":"2024-01-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/"},"modified":"2024-01-16T00:00:00","modified_gmt":"2024-01-16T00:00:00","slug":"qatar-pauses-lng-shipments-through-the-red-sea","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/","title":{"rendered":"Qatar pauses LNG shipments through the Red Sea"},"content":{"rendered":"

Oil and gas woes deepen amid Red Sea escalation: <\/strong>No fewer than five Qatari vessels carrying liquefied natural gas (LNG) making their way to the Bab El Mandeb strait have been stopped in their tracks since Friday, Bloomberg<\/a> reported. Around 209 oil tankers \u2014 or 4% of the world\u2019s oil fleet \u2014 have started rerouting away from the Red Sea over the weekend in the clearest example of disruption to the oil market since Israel\u2019s war on Gaza began, according to Asharq Business<\/a>, citing a note from Oil Brokerage.<\/p>\n

The bigger picture: <\/strong>While the Houthi group hasn\u2019t purposely targeted any oil tankers since theonset of attacks in November, Qatar \u2014 the second largest exporter of LNG to Europe \u2014 likely views US and UK strikes<\/a> in Yemen as the beginning of graver tensions in the Red Sea. The American and British navies jointly advised<\/a> merchant vessels to avoid Red Sea transit following their attacks on Houthi positions.<\/p>\n

This includes Qatar\u2019s state-owned LNG carrier <\/strong>QatarEnergy<\/a><\/strong>,<\/strong> which is pausing Red Sea transits pending a security update, Reuters<\/a> reported. \u201cIt is a pause to get security advice, if passing (through the) Red Sea remains unsafe we will go via the Cape \u2026 It is not a halt of production,\u201d a senior source that the newswire says has direct knowledge of the matter said.<\/p>\n

M<\/strong>arket reax: <\/strong>Natural gas (Nymex) fell by 6.5% to USD 3.10 per MMBtu, while Brent crude inched down to 0.2% to USD 78.15 a barrel by the end of trading yesterday.<\/p>\n

The shipping industry is still feeling the pressure<\/strong>:<\/strong> German shipping line Hapag-Lloyd decided to continue to reroute ships around the Cape of Good Hope for at least another week since it pulled its fleet from the fraught waterway in December, a statement<\/a> from the shipping giant said. Shipowners group BIMCO<\/a> also issued a statement<\/a> yesterday highlighting the risks to shipping in the region that recommended \u201cshipping companies to consider avoiding shipping operations in the area.\u201d<\/p>\n

But, the recent disruptions in Red Sea shipping have not triggered a shift to air<\/strong> freight for<\/strong>FedEx<\/a><\/strong>,<\/a>Reuters<\/a> reports. \u201cShipping over the ocean makes up 90% of global commerce, so even a small change would have an impact, but we haven't seen much yet,\u201d FedEx CEO Raj Subramaniam said.<\/p>\n

\n

DEVELOPMENTS ON THE GROUND-<\/p>\n

The Houthis targeted a US commercial vessel with an anti-ship ballistic<\/strong> missile,<\/strong> US Central Command (Centcom) said<\/a> yesterday on X. The missile struck a US operated and owned container vessel dubbed the Gibraltar Eagle, with the ship continuing its journey without reporting injuries to crew or serious damage, Centcom added. <\/p>\n

The Houthis are backing up rhetoric with action: <\/strong>\u201cAttacks to stop Israeli ships or those heading to the ports of the occupied Palestine will continue,\u201d the group\u2019s chief negotiator Mohammed Abdulsalam told Reuters<\/a> following the US-led strikes on Yemen.The latest attack indicates that the Iran-backed group seems set to carry through on its threat to continue its campaign against shipping in the Red Sea despite recent military action from the West, Reuters<\/a> said. <\/p>\n","protected":false},"excerpt":{"rendered":"

Oil traffic through the Red Sea has plummeted since last weekend's US-led strikes on Yemen<\/p>\n","protected":false},"author":1,"featured_media":613496,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8271],"tags":[72,7117,7360],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-613495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-red-sea-watch","tag-enterpriseam","tag-red-sea","tag-red-sea-watch","wpautop","entry"],"acf":{"mongo_id":"201b49ba-41b2-4c6b-9051-5a2e1db044c7","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1036.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"Qatar pauses LNG shipments through the Red Sea","related_issue":[613488],"teaser":"Oil traffic through the Red Sea has plummeted since last weekend's US-led strikes on Yemen","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.451e4470-d11b-4112-bd3d-13bc05a60a42.mp3"},"yoast_head":"\nQatar pauses LNG shipments through the Red Sea - 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One block went to Chevron,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591438,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/05\/winners-of-red-sea-ep-bid-round-announced-this-month-el-molla\/","url_meta":{"origin":613495,"position":3},"title":"Winners of Red Sea E&P bid round announced this month -El Molla","author":"enterpriseam admin","date":"5 December 2019","format":false,"excerpt":"The Oil Ministry will announce the winners of the Red Sea exploration and production bid round this month, Minister Tarek El Molla told Youm7. The tender comprises 10 oil and gas exploration blocks, and was launched by the South Valley Egyptian Petroleum Holding Company (Ganope) back in March.","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597310,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/22\/red-sea-gas-scramblers-have-until-mid-september-to-submit-bids-to-egypts-ganope\/","url_meta":{"origin":613495,"position":4},"title":"Red Sea gas scramblers have until mid-September to submit bids to Egypt\u2019s GANOPE","author":"enterpriseam admin","date":"22 July 2019","format":false,"excerpt":"Scramblers have until mid-September to submit bids for Red Sea exploration: The South Valley Egyptian Petroleum Holding Company (Ganope) has extended to mid-September the deadline for submitting bids in its tender for 10 oil and gas exploration blocks off the Red Sea, an unnamed Oil Ministry official said. The deadline,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577322,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/an-oil-refinery-is-dumping-40k-cbm-of-toxic-waste-in-the-red-sea-every-day-the-bbc-reports\/","url_meta":{"origin":613495,"position":5},"title":"An oil refinery is dumping 40k cbm of toxic waste in the Red Sea every day, the BBC reports","author":"enterpriseam admin","date":"17 November 2022","format":false,"excerpt":"Climate change and environmental issues in Egypt is the sole focus of the foreign press this morning, making this the first day since the COP27 summit began 12 days ago that human rights is absent from the international conversation. The BBC looks at allegations of toxic wastewater being dumped in\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/613495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=613495"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/613495\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/613488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/613496"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=613495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=613495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=613495"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=613495"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=613495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}