QatarEnergy prepares LNG restart, but full output hinges on Hormuz access

QatarEnergy said it was preparing to resume LNG production, but full output depends on navigation through the Strait of Hormuz, where Iran's navy had warned ships against transit without its consent. Two LNG trains, 4 and 6, were damaged and cut output by 12.8 mtpa, with repairs expected to take up to five years. For traders the restart timing and shipping access are the swing factors for global LNG supply.

• Restart being prepared, but not full output
• Full output depends on Strait of Hormuz transit
• Trains 4 and 6 damaged: 12.8 mtpa of output lost
• Repairs expected to take up to five years