Taiwan loses about one-third of Middle East LNG imports after Strait of Hormuz closure

The article says Taiwan lost about a third of its Middle East LNG supply after Iran closed the Strait of Hormuz and struck Qatar’s LNG production facilities. It adds Taiwan responded by buying large volumes of U.S. LNG on the spot market to cover the shortfall, pushing up short-term LNG prices and reinforcing expectations of a long-term supply premium. The piece also states that ConocoPhillips will sign a post-war Syria gas agreement, and that as a major U.S. LNG exporter it stands to benefit from Taiwan’s shift away from Middle East supply, according to the article.