Global exports of liquefied natural gas fell sharply in April 2026, slipping to their lowest monthly level in nearly two years as escalating disruption in the Middle East weighed on tanker movements and curtailed supply from one of the world’s most important LNG producers.

According to maritime tracking data compiled by Bloomberg, global LNG shipments declined to about 33 million tonnes in April, marking the weakest monthly export level since May 2024. The drop came as the US-Israeli war against Iran, which began on 28 February 2026, disrupted LNG tanker traffic through the Middle East and placed renewed pressure on global gas supply chains.

The most significant impact came from Qatar, the world’s second-largest LNG exporter last year. Bloomberg reported that Qatar halted LNG production after strikes on major facilities, disrupting output from one of the most critical supply sources for Asian and European buyers. Reuters has also reported that Qatar-related LNG operations have been affected by the conflict, with ConocoPhillips revising its production outlook due to disruptions at its Qatar LNG interests.

The April decline underlines how exposed the global LNG market remains to geopolitical risk, particularly in the Gulf, where export flows depend heavily on safe tanker passage. Reuters reported that LNG traffic through the Strait of Hormuz has been heavily disrupted, with some vessels altering behaviour or limiting signal transmissions amid security concerns.

Despite the scale of the disruption, the overall year-on-year fall was relatively contained. Bloomberg’s vessel-tracking data showed April shipments were only around 7 percent lower than the same month a year earlier. That suggests the market was partially cushioned by higher output from other exporters, including the United States and Canada.

The United States, in particular, played a growing role in offsetting the shortfall. The Golden Pass LNG terminal in Texas shipped its first cargo in April, adding new supply at a moment when global buyers were facing reduced availability from the Middle East. The US Energy Information Administration said Golden Pass shipped its first LNG cargo from Train 1 on 22 April 2026, making it the ninth LNG export terminal in the United States.

Golden Pass confirmed the departure of its first export cargo, describing it as a milestone for the project as it moves toward full commercial operations. The terminal is backed by QatarEnergy and ExxonMobil, giving it added significance at a time when Qatar’s own domestic LNG flows have been disrupted.

For global energy markets, the April figures point to a supply shock that is serious but not yet fully destabilising. The fall to 33 million tonnes shows the scale of the disruption, but the limited year-on-year decline indicates that supply diversification is beginning to matter. Additional volumes from North America have helped absorb part of the lost Qatari output, even if they cannot fully replace the strategic importance of Gulf LNG.

The bigger concern is duration. LNG markets can manage short-term shipping interruptions through rerouted cargoes, inventory drawdowns and increased output elsewhere. But a prolonged reduction in Qatari supply would place greater pressure on buyers in Asia and Europe, especially those dependent on long-term Gulf contracts. Reuters has reported that some companies exposed to Qatari LNG have already had to adjust supply expectations as the conflict continues.

The latest data also highlights a broader shift in the LNG market. New supply from the United States and Canada is becoming increasingly important, not only as a source of volume but as a buffer against regional disruptions. However, the market remains finely balanced. LNG projects take years to develop, and shipping routes cannot be restructured overnight when a major corridor such as the Strait of Hormuz is affected.

For now, April’s export decline serves as a clear warning: global LNG supply is becoming more diversified, but it is not yet insulated from geopolitical shocks. With Qatar’s production constrained and Middle East tanker traffic still under pressure, the strength of the LNG market in the coming months will depend on how quickly regional flows stabilise — and how much additional supply other exporters can bring to market.