Qatar's liquefied natural gas exports are collapsing: The 10-day moving average of Qatar LNG exports is down to just 33 tons, the lowest since the 2008 Financial Crisis. This marks a -90% drop since February and is -85% below the average seen over the last 10 years. This comes as the world's largest LNG export facility at Ras Laffan has not shipped a cargo over the last 5 days, the longest streak in data going back to 2008. Qatar is the world’s 2nd largest LNG supplier, responsible for ~20% of global deliveries, with most exports headed to Asia. Asian importers are now rushing to secure alternative sources or cutting supply to end-users, including fertilizer plants and industrial consumers. Global energy flows are under historic pressure.(The Kobeissi Letter)