Iranian Attack Cuts Qatar’s LNG Production Capacity by 17% for Five Years
Doha: QatarEnergy CEO Saad al-Kaabi has announced that recent Iranian attacks have reduced Qatar’s liquefied natural gas (LNG) production capacity by 17 percent, potentially impacting operations for the next five years.
In an interview with an international news agency, al-Kaabi stated that the attacks targeted facilities responsible for producing 17 percent of Qatar’s export LNG. Repairs to the affected plants are expected to take between three to five years and will cost approximately $26 billion.
He further noted that Qatar may be forced to suspend LNG supply agreements with countries including Italy, Belgium, South Korea, and China for up to five years, under clauses already included in the contracts.
Al-Kaabi warned that the situation could create a major crisis not only for Qatar but also for the global energy market, as Qatar is the world’s largest LNG exporter.
The attacks on the Ras Laffan gas plant have already caused disruptions in the international market, with gas prices in Europe reportedly rising by up to 60 percent and global supply chains being affected.
