Competition from Asian buyers in Hormuz crisis, Bangladesh concerned

POBNEWS24, Dhaka Mar 3, 2026 : Shipping through the Strait of Hormuz is now on the verge of being stopped due to Iran’s threat. This incident has emerged as a major threat to Bangladesh’s energy security. More than half of Bangladesh’s liquefied natural gas (LNG) imports were made through this route connecting to the Persian Gulf last year.
According to Kepler Insight and Wood Mackenzie, last year Bangladesh procured more than 50 percent of its LNG from Qatar and the United Arab Emirates. In 2025, Bangladesh imported about 3.6 million tons of LNG from the Middle East, the main source of which was Qatar.
The Middle East is one of the world’s major gas producing regions. Gas comes from here through specialized ships instead of pipelines. As a result, the Strait of Hormuz is essential for many countries like Bangladesh.
According to a Financial Times (FT) report, Qatar is the world’s second largest LNG exporter. About 20 percent of global LNG supply comes from Qatar. According to Shell LNG Outlook 2025, LNG will meet about 13 percent of global natural gas demand in 2024.
According to Kepler Insight, while China and India are the top LNG importers from Qatar, Bangladesh and Pakistan are also at the top of the list among Asian buyers.
In 2025, Pakistan met 99 percent of its LNG needs from Qatar and the UAE. India and Bangladesh imported more than half of their needs from these two countries.
Oman, another major producer in the Arabian Peninsula, exports LNG from outside the Strait of Hormuz. As a result, supplies from Oman could continue even if the Gulf region is closed. However, Oman’s production is insignificant compared to Qatar’s huge production. Therefore, the Strait of Hormuz is the single most important route for Bangladesh’s energy imports.
Until 2022, Russia was the world’s largest LNG exporter. But its sales declined after the Ukraine war. The United States is now the world’s largest LNG exporter, followed by Qatar and Australia.
Analysts warn that if the Strait of Hormuz is closed for a long time, the global LNG supply will decrease by 15 percent. In such a situation, Asian buyers will have to compete fiercely to import gas from the United States.
LNG is essential for Bangladesh’s power generation. As a result, Bangladesh will be directly affected if the supply through the Strait of Hormuz is disrupted.
Experts say that global LNG plants are already running at full capacity, so the opportunity for alternative supply in the short term is very small. Although the huge LNG plant called Golden Pass in the United States is scheduled to start operating this year, it will take time to reach full production.