The Iran war created a global natural gas shortage — a windfall for U.S. companies

Climate The Iran war created a global natural gas shortage — a windfall for U.S. companies April 14, 20261:50 PM ET Julia Simon There's a global shortage of natural gas because of the war. That has consequences for the U.S., the world's largest exporter of liquefied natural gas or LNG. Brandon Bell/Getty Images North America hide caption toggle caption Brandon Bell/Getty Images North America HOUSTON – Troubles in the Strait of Hormuz continue, with the U.S. now imposing a naval blockade on Iranian ports. More than six weeks after the war began, one key part of the global energy supply remains locked in the strait—liquefied natural gas, or LNG. LNG is mainly used for electricity and heating, and about a fifth of the global LNG supply is produced by state-owned QatarEnergy. Even if the strait opens, it's unclear when Qatar's LNG could reach buyers in Asia and Europe. Early in the U.S.-Israeli war with Iran, attacks hit QatarEnergy's LNG facilities. Energy experts tell NPR it could take several months to repair them. A return to full production capacity could take years. QatarEnergy did not respond to NPR's request for comment. Sponsor Message Middle East conflict Middle East conflicts largely avoided energy facilities in the past. Not in this war With Qatar largely out of the picture, there's a global shortage of natural gas. That leaves an opening for the world's largest LNG exporter, the U.S. Last month, the heads of U.S. LNG companies gathered for a reception at CERAWeek by S&P Global, an annual industry conference in Houston. Mood lights made everyone look blue. But no one looked like they were feeling blue. With drinks flowing and a jazz band playing, the mood was celebratory. "We have a shortage of natural gas," U.S. Secretary of Energy Chris Wright told the crowd. "Where is that natural gas gonna come from? It's gonna come from continued ramps, continued investments to grow United States LNG exports." In the center left of the frame, U.S. Secretary of Energy Ch...