Faced with the Houthi attacks and the response from the United States and the United Kingdom, Qatar fears a deterioration in transport conditions for liquefied natural gas (LNG), the cargoes of which transit the Red Sea.
The transport of Liquefied Natural Gas (LNG) “will be affected” by the escalation in the Red Sea, said Tuesday the Prime Minister of Qatar, one of the largest gas producers in the world. “LNG is (…) like all other merchant cargoes, it will be affected” by the current escalation in the Red Sea off the coast of Yemen, declared Mohammed ben Abdulrahman Al-Thani at the World Economic Forum in Davos.
The Yemeni Houthi rebels have increased attacks in recent weeks against boats they suspect of being linked to Israel, in this essential area for world trade, claiming to act in solidarity with the Palestinians in Gaza faced with the war between Hamas and Israel. The increase in these attacks has forced some shipowners to bypass the area, leading to an increase in transport times and costs between Asia and Europe.
“Less efficient” alternative routes
“There are alternative routes, but these routes (…) are less efficient than the current route,” underlined the Qatari Prime Minister, whose country is one of the largest LNG producers in the world. The Bloomberg news agency reported on Monday that at least five LNG ships operated by Qatar, which were heading towards the strategic Bab el-Mandeb Strait, separating the Arabian Peninsula from the Horn of Africa, had arrested off the coast of Oman.
The United States and the United Kingdom carried out strikes in Yemen on Friday and Saturday against the positions of the Houthis, who responded on Monday by firing a missile against an American cargo ship, without causing any injuries or major damage. Asked about the American-British strikes, Mohammed ben Abdulrahmane Al-Thani, estimated that the military solution will not “put an end to this situation and will not contain it”. “On the contrary, I think it will create a new escalation,” he replied.