U.S. liquefied natural gas producers are seeing strong stock gains as the Iran crisis drives up global gas prices. Venture Global shares have jumped 74% since the conflict began, while Cheniere Energy is up 25%. The surge comes as Iranian strikes on Qatar's Ras Laffan facility threaten to keep prices elevated for years.

Qatar's LNG export hub suffered missile damage that could take up to five years to repair, creating a major supply bottleneck. Around a fifth of global LNG passes through the Strait of Hormuz, with most of that coming from Qatar's single facility. This disruption is particularly beneficial for U.S. producers whose supplies remain unaffected.

The price volatility undermines LNG's marketing as an affordable and secure energy source. Spot prices in Europe and Asia have gained 67% and 84% respectively since U.S. strikes on Iran, compared to a 48% increase for Brent crude. This fresh price shock, following the Ukraine war's impact, challenges the industry's expansion plans.