Qatar offers to lease LNG tankers as Middle East conflict chokes Persian Gulf routes

Qatar is offering to lease at least two of the liquefied natural gas (LNG) tankers under its control, as the massive export facility in the Persian Gulf remains shuttered due to the ongoing conflict in the Middle East.

Traders familiar with the matter told Bloomberg that the Al Thumama and Mesaieed vessels, chartered long-term by the state-owned company QatarEnergy, are being offered to the market. According to vessel-tracking data compiled by Bloomberg, the ships are currently located off the west coast of Africa.

The conflict in the Middle East, which began on February 28, has roiled energy markets, driving up prices for crude oil, natural gas, and refined petroleum products. Earlier this week, Qatar ceased production at the Ras Laffan LNG export terminal—the world’s largest—following an Iranian drone strike.

The war has effectively closed the Strait of Hormuz, disrupting shipping to and from the Persian Gulf, including the tankers that transport Qatar’s LNG to global markets. According to Kpler vessel-tracking data, the Al Thumama has been utilized primarily for LNG exports from Ras Laffan since it entered service in 2008. Data indicates that the Mesaieed, which entered the market in 2025, has completed three shipments from Qatar and one from the US.

US grants India temporary waiver for Russian oil imports

Meanwhile, the US is reversing months of pressure on India—the world’s third-largest crude oil importer—to allow a temporary increase in Russian oil purchases as the conflict disrupts energy flows.

The license, issued late Thursday, covers transactions involving Russian crude oil and petroleum products loaded onto vessels before March 5, provided these products are delivered to India and purchased by an Indian firm. This measure expires at 12:01 PM Washington time on April 4.

US Treasury Secretary Scott Bessent stated in a post on X: “To maintain the flow of oil to the global market, the Treasury Department is issuing a 30-day temporary waiver to allow Indian refiners to purchase Russian oil. This intentionally short-term measure will not provide a significant financial benefit to the Russian government, as it only approves transactions involving oil already stranded at sea.”

India increases oil purchases from Russia

This move, aimed at easing pressure on oil supply, provides immediate relief to one of the economies most directly affected by disruptions in the Middle East. With ample supplies of both sanctioned and non-sanctioned Russian oil currently at sea, refiners can accelerate purchases and stabilize operations.

In this context, India has begun to increase its intake of oil from Russia. According to Bloomberg’s vessel-tracking data, three tankers that had reported destinations in Southeast Asia have rerouted their courses toward India.

These tankers carry a total of 2.16 million barrels of oil. The Odune tanker entered the Indian port of Paradip on Wednesday. The Matari is expected to arrive at the port of Vadinar on Thursday.