Iran attacks cut 17% of Qatar's LNG capacity for up to 5 years: QatarEnergy

"Two of Qatar's 14 LNG trains, the equipment used to liquefy natural gas, and one of its two gas-to-liquids facilities were damaged in Iranian strikes this week. The repairs will sideline 12.8 million tonnes of LNG production per year for three to five years, causing an estimated $20bn in lost annual revenue and threatening supplies to Europe and Asia."

"I never in my wildest dreams would have thought that Qatar would be Qatar and the region in such an attack, especially from a brotherly Muslim country in the month of Ramadan, attacking us in this way."

"Iran on Wednesday launched a series of attacks on oil and gas facilities across the Gulf region after the Israeli military bombed its South Pars offshore gasfield. Tehran has been firing missiles and drones across the Middle East in response to the United States-Israeli war on Iran, which began on February 28."

Iranian military strikes damaged two of Qatar's 14 LNG trains and one gas-to-liquids facility, eliminating 12.8 million tonnes of annual LNG production capacity. QatarEnergy's CEO Saad al-Kaabi stated the repairs will require three to five years, necessitating potential force majeure declarations on long-term contracts. The attacks, launched in response to Israeli strikes on Iran's South Pars gasfield, threaten global energy supplies to Europe and Asia. Iran also blocked the Strait of Hormuz, a critical waterway for one-fifth of global oil and LNG transit. Arab Gulf nations condemned the strikes as violations of international law, while Iran's Foreign Minister warned of zero restraint if infrastructure is targeted again.

Read at www.aljazeera.com