Iranian missile strikes have crippled 17% of Qatar's liquefied natural gas (LNG) export capacity, triggering an estimated $20 billion annual revenue loss and raising concerns over global energy supplies.
QatarEnergy CEO Saad al-Kaabi said the attacks damaged two of the country's 14 LNG trains and one of its two gas-to-liquids (GTL) facilities, sidelining 12.8 million tons per year of LNG production for three to five years.
The CEO warned that Qatar may have to declare force majeure on long-term contracts for LNG supplies to Italy, South Korea, Belgium, and China due to the damage, with rebuilding costs estimated at $26 billion.
The impact extends beyond LNG, with Qatar's condensate exports expected to fall by 24%, liquefied petroleum gas (LPG) by 13%, helium by 14%, and both naphtha and sulphur by about 6%.
