5 Natural Gas Stocks Profiting From the Strait of Hormuz Standoff

A disruption to LNG flows through the Strait of Hormuz after Iran's March strike on Qatar's Ras Laffan has lifted spot market prices in Europe and Asia and shifted demand toward U.S. and floating exporters. Beyond headline names like Cheniere, several less obvious companies — including Venture Global, APA Corp. and Golar LNG — have recorded outsized gains or strategic opportunities as the crisis persists and QatarEnergy extends force majeure.

By AI Newsroom· Reviewed by Pranav, Founder & Editor-in-ChiefPublished 1 minute agoUpdated 1 minute ago0 views

Why It Matters

The Strait of Hormuz interruption removed roughly 17% of Qatar's LNG capacity and helped push regional gas prices to multi-year highs, reshaping trade flows and rewarding sellers exposed to the spot market or flexible delivery options. That dynamic has produced material revenue and guidance upgrades at some exporters and altered commercial planning across the industry.

Key Facts

Date of Iran strike: March (year not specified in excerpt)
Qatar export capacity knocked out: 17% of Qatar's LNG export capacity
Flows through Hormuz: Down more than 75% from prewar levels
Venture Global Q2 net income: $1.3 billion (up 266%)
Venture Global Q2 revenue: $4.6 billion

When a March strike on Qatar’s Ras Laffan complex removed about 17% of the country’s LNG export capacity, global trade routes shifted and spot markets tightened. Flows through the Strait of Hormuz remain sharply reduced — more than 75% below prewar levels — while QatarEnergy has extended force majeure on deliveries through the end of November. The disruption has contributed to European and Asian gas prices reaching their highest levels since the 2022-2023 energy crisis, even as U.S. benchmark Henry Hub has stayed near $3.

That environment has favored sellers with exposure to the spot market or flexible delivery options. Venture Global, which struggled after its January 2025 IPO, reported a 266% jump in net income to $1.3 billion on $4.6 billion of revenue in the second quarter and raised full-year adjusted EBITDA guidance to $8.7–$9.1 billion. Management’s forecast assumes liquefaction fees of $12.50–$13.50 per MMBtu on remaining unsold cargoes, while U.S. feed gas costs are roughly a quarter of that level. Long-term counterparties have also shown renewed interest: ConocoPhillips agreed on Oct. 1 to buy 1 million tonnes a year from Venture Global starting in 2030.

APA Corp. has benefited through a separate channel. Despite reporting an average realized U.S. gas price of negative $2.20 per Mcf in Q2 and curtailing about 137 MMcf/d of Permian production, APA sells 140,000 MMBtu per day to Cheniere under a contract priced to international benchmarks that runs to 2037. APA expects about $950 million in pretax cash flow from gas trading this year, delivered alongside $738 million in free cash flow for the quarter and nearly $2.3 billion of debt paid down since the end of 2024. Analysts have noted APA’s outsized exposure to LNG prices among U.S. producers.

Floating LNG provider Golar LNG has also seen its business case strengthened by the supply disruption. Its converted FLNG unit Hilli recovered its conversion cost over time and produced significant tolling EBITDA; commodity-linked fees tied to Brent and European TTF boosted Hilli’s cash take to $37 million in Q2, more than triple Q1. Golar has ordered a fourth FLNG unit — a 3.5 MTPA vessel priced at $2.45 billion from CIMC Raffles — which it expects to deliver around late 2029 and is positioning as one of the earliest available floating solutions for customers unable or unwilling to build onshore capacity.