Iranian strikes have disrupted around 17% of Qatar’s liquefied natural gas (LNG) export capacity, leading to an estimated $20 billion in annual revenue losses and putting supplies to Europe and Asia at risk, according to QatarEnergy CEO Saad al-Kaabi.
Al-Kaabi said the attacks damaged two of Qatar’s 14 LNG trains and one of its two gas-to-liquids (GTL) plants—an unprecedented development. As a result, about 12.8 million tonnes per year of LNG capacity could be offline for three to five years.
He expressed shock at the situation, saying he never expected Qatar or the wider region to face such an attack, particularly during Ramadan and from what he described as a fellow Muslim country.
The strikes came shortly after Iran launched attacks on Gulf oil and gas infrastructure in response to Israeli actions targeting its own energy facilities.
QatarEnergy may now be forced to declare force majeure on long-term LNG supply contracts for up to five years, affecting shipments to countries including Italy, Belgium, South Korea, and China, due to the damaged facilities.
The impact also extends to project partners, including ExxonMobil, which holds stakes of 34% and 30% in the affected LNG trains.
Beyond LNG, Qatar’s exports of condensate are expected to drop by around 24%, while liquefied petroleum gas (LPG) output could fall 13%. Helium production may decline by 14%, with naphtha and sulphur output each decreasing by about 6%.
Al-Kaabi noted that the damaged infrastructure had cost roughly $26 billion to develop.
Earlier, QatarEnergy had already declared force majeure across all LNG output following attacks on its Ras Laffan Industrial City facilities.
He added that production cannot resume until hostilities in the region come to an end.
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