Red Sea Disruption Is Splitting Global LNG Trade in Regions
- Carriers haven’t crossed Bab al-Mandab since mid-January
- Traders are swapping cargoes between regions to avoid costs
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It’s been four months since a liquefied natural gas tanker has passed through the narrow strait at the southern end of the Red Sea separating the Arabian Peninsula and Africa, testament to how violent attacks there have upended global energy trade.
While dozens of such ships used to traverse the Bab al-Mandab Strait each month prior to the escalation of the Israel-Hamas war, attacks by Yemen’s Houthi rebels have brought that number down to zero since mid-January.