QatarEnergy estimates $20 billion annual loss from LNG disruptions

Iranian strikes have significantly disrupted Qatar’s energy sector, knocking out a substantial portion of the country’s liquefied natural gas export capacity and raising concerns about long-term supply shortages.

QatarEnergy CEO and Minister of State for Energy Affairs Saad al-Kaabi said the attacks have disabled approximately 17% of Qatar’s LNG export capacity. The damage is estimated to reduce the country’s annual revenue by about $20 billion and poses a direct threat to gas supplies destined for Europe and Asia.

“Iranian attacks have knocked out 17% of Qatar’s LNG export capacity, resulting in an annual revenue loss of approximately $20 billion and threatening supplies to Europe and Asia,” Reuters writes.

According to available information, the strikes damaged two of Qatar’s 14 LNG production trains, along with one of its two gas-to-liquids processing plants.

The destruction is described as extensive and will require a lengthy recovery process. Repair efforts are expected to take between three and five years. Over that period, the global energy market is projected to lose around 12.8 million tonnes of Qatari gas annually, tightening supply and potentially sustaining upward pressure on prices.

By Tamilla Hasanova