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Ras Laffan Strikes Disable 17% of Qatar LNG Capacity as Gulf Confrontation Intensifies

QatarEnergy says 12.8 million tonnes a year will be offline for three to five years, pointing to a prolonged squeeze on global gas supplies.

Overview

  • QatarEnergy confirmed damage at Ras Laffan has sidelined roughly a sixth of the country’s export capability after the bombing.
  • CEO Saad al Kaabi told Reuters that two of 14 liquefaction units and one of two conversion plants were hit, removing 12.8 million tonnes per year of output for three to five years.
  • European gas futures jumped by as much as 35% following the attacks, and crude prices climbed on fears of sustained supply shortfalls.
  • Iran warned it would show no restriction if its energy infrastructure is struck again, saying its earlier response used only a fraction of its power.
  • Regional fallout continued as Kuwait reported refinery fires from drone strikes, Saudi Arabia intercepted drones and a ballistic missile near Yanbu, and the IRGC confirmed the death of its spokesman, with reports of a U.S.-Israel counteroffensive.