Companies that transport natural gas, including BP Plc and Norway’s Equinor ASA, are choosing to avoid the Red Sea after Iran-backed Houthi militants stepped up attacks in support of Hamas. Shipments from Qatar, one of the world’s largest LNG producers and a key supplier to Europe, continue to transit the Red Sea toward the Suez Canal, according to shiptracking data.
Liquefied natural gas tankers are diverting their routes from the Red Sea as violence linked to the Israel-Hamas war threatens longer journeys and delays of the super-chilled fuel.
At least five ships have changed course since Friday away from waters off the coast of Yemen, an unavoidable waypoint for ships using the Suez Canal that links Europe and Asia, according to ship-tracking data compiled by Bloomberg. It isn’t immediately clear if all ships were diverted due to the tensions.
