Iranian strikes on Gulf infrastructure have significantly dented Qatar’s liquefied natural gas (LNG) sector, disrupting nearly 17 per cent of the country’s export capacity and resulting in an estimated annual revenue loss of $20 billion, according to Saad al-Kaabi, CEO of QatarEnergy and Qatar’s Minister of State for Energy Affairs.
Al-Kaabi revealed that the damage could take years to repair, with around 12.8 million tonnes per year of LNG production expected to remain offline for a period of three to five years. The prolonged disruption poses a serious threat to energy supplies across Europe and Asia, impacting key importers such as China and India.
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The unprecedented strikes have damaged at least two of Qatar’s 14 LNG production trains, along with one of its two gas-to-liquids (GTL) facilities, further compounding the crisis in global energy markets.
Expressing shock over the escalation, al-Kaabi said he never anticipated such an attack, particularly from what he described as a “brotherly Muslim country,” and especially during the holy month of Ramadan.
In response to the extensive damage, QatarEnergy has indicated it may be forced to declare force majeure on long-term LNG supply contracts for up to five years. The affected shipments include deliveries bound for countries such as Italy, Belgium, South Korea, and China.
The disruption is expected to intensify volatility in global gas markets, with concerns mounting over supply shortages and rising energy prices in the months ahead.
(This story is published from a syndicated feed)
