Iran attack wipes out 17% of Qatar's LNG capacity for up to five years

Iranian attacks have severely impacted Qatar's liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in annual losses. Two LNG trains and a gas-to-liquids facility were damaged, sidelining 12.8 million tons of LNG for three to five years.

QatarEnergy's CEO, Saad al-Kaabi, expressed shock at the attacks, especially from a neighboring country during Ramadan. The firm may need to declare force majeure on long-term LNG contracts, affecting supplies to Italy, Belgium, South Korea, and China.

The damage also influences other exports, with condensate down 24%, liquefied petroleum gas 13%, helium 14%, and more. Repairs will require a cessation of hostilities.