World ( The cow news digital ) Doha – Qatar’s Chief Executive Officer of Qatar Energy, Saad Al-Kaabi, announced that recent attacks by Iran have severely impacted Qatar’s liquefied natural gas (LNG) production, reducing output by 17 percent for the next five years.
Speaking to international media, Al-Kaabi revealed that the affected facilities were responsible for producing 17 percent of Qatar’s LNG exports. Repairing these installations is estimated to take between three to five years, with an anticipated cost of approximately $26 billion. The scale of the damage is unprecedented in the country’s energy sector and has raised concerns about regional and global energy security.
Al-Kaabi also noted that Qatar may be forced to suspend LNG supply agreements with several countries, including Italy, Belgium, South Korea, and China, for the duration of the repair period. These suspension clauses were reportedly included in the original contracts, allowing Qatar some flexibility in managing international obligations.
The CEO warned that the attacks not only affect Qatar but also pose a significant challenge to the global energy market. Qatar is the world’s largest LNG exporter, and disruptions in its supply chain have immediate implications for energy prices and availability worldwide.
Following the attacks on the Ras Laffan Gas Plant, global energy markets have reacted sharply, with European gas prices reportedly surging by up to 60 percent. Analysts are closely monitoring the situation as uncertainties in supply create volatility in international LNG markets.
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The incident highlights the strategic vulnerability of critical energy infrastructure in the Gulf region and raises concerns about geopolitical risks affecting global energy stability. Energy experts stress that ensuring the security of LNG facilities is crucial not only for regional economies but also for the broader international market dependent on consistent energy supplies.
Al-Kaabi emphasized that Qatar is committed to rebuilding the damaged facilities and resuming full LNG production, but the process will require significant investment, time, and coordinated efforts across multiple sectors.
The attack underscores the broader geopolitical tensions in the Gulf and their immediate impact on energy markets, reminding stakeholders of the interconnected nature of regional security and global energy supply.
