Liquefied natural gas cargoes are diverting away from Asia to Europe after fears of a wider war in the Middle East sent benchmark Dutch prices rallying.

It’s getting cheaper — at least for now — to rent a liquefied natural gas tanker despite turmoil in the Red Sea that is forcing some vessels to take longer and more costly routes.

Congestion at the Panama Canal could result in delays at Egypt’s Suez Canal, possibly affecting cargoes of liquefied natural gas, according to an official at Angelicoussis Group.

Giant oceangoing tankers built the liquefied natural gas industry into a $150 billion-a-year business. The next expansion opportunity may come from ships a seventh of the normal size.