Natural Gas Prices Set to Ease as Qatar Restores LNG Output

Natural gas prices are set to ease in the third quarter of 2026 as Qatar restores liquefied natural gas (LNG) output following the reopening of the Strait of Hormuz, according to the head of the Gas Exporting Countries Forum (GECF).

Philip Mshelbila, GECF Secretary General, stated at the Reuters Global Energy Forum that the market is on track to return to balance in Q3, assuming the Strait remains open. The GECF represents countries accounting for up to 70% of global gas reserves. Qatar, one of the world's largest LNG exporters, had faced production disruptions due to tensions in the region. The restoration of its output is expected to add significant supply to the global market, alleviating recent price pressures.

For energy traders, this development signals a potential shift in the supply-demand dynamics that have kept natural gas prices elevated. The reopening of the Strait of Hormuz, a key chokepoint for LNG tankers, removes a major risk premium. Traders can monitor real-time price movements on NowPrice's live fuel dashboard to track the impact of these supply changes. The easing of prices could also affect related markets, such as European gas benchmarks and Asian spot LNG prices, which have been sensitive to supply disruptions.

Looking ahead, market participants will watch for further updates on Qatar's production ramp-up and any geopolitical developments in the region. The GECF's outlook suggests a more balanced market by Q3, but traders should also consider potential demand shifts from key consumers like China and Europe as they approach the winter heating season. Any unexpected outages or renewed tensions could quickly reverse the current easing trend.