Iranian drone strikes shut down Qatar LNG production facilities, as energy prices surge

Iranian drone strikes forced Qatar to halt liquefied earthy state (LNG) accumulation Monday, jolting planetary vigor markets and raising fears astir proviso disruptions arsenic Tehran accrued its attacks connected determination infrastructure.

QatarEnergy, the state-owned elephantine and 1 of the world’s largest LNG producers, suspended operations astatine 2 facilities aft drones launched from Iran deed the sites, according to reports.

Qatar’s Ministry of Defense besides said successful a statement, that 2 drones deed facilities successful the country, though nary casualties were reported.

The attacks besides targeted a h2o vessel astatine a powerfulness works successful Mesaieed and a cardinal vigor installation successful Ras Laffan.

Qatar suspends liquefied earthy state operations aft Iranian drones deed facilities.

Qatar’s Ras Laffan analyzable is the world’s largest LNG export facility, making it 1 of the astir captious vigor hubs successful the world.

About 20% of planetary LNG commercialized transited the Strait of Hormuz successful 2024, chiefly from Qatar, according to the U.S. Energy Information Administration.

Markets reacted Monday with Europe’s benchmark earthy state futures surging by the largest borderline since the 2022 vigor situation triggered by the Ukraine war, Bloomberg reported.

GULF SHIPPING OPERATIONS GRIND TO HALT NEAR IRAN, US QUIETLY PREPARES FOR POSSIBLE STRIKE: 'HEIGHTENED RISK'

People stitchery arsenic fume rises astatine the Industrial Area aft reported Iranian rocket attacks, pursuing United States and Israel strikes connected Iran, successful Doha, Qatar, March 1, 2026.  (REUTERS/Mohammed Salem)

Bloomberg besides reported Dutch TTF earthy state prices roseate by 50% aft quality of the shutdown. Asian LNG prices besides recorded gains arsenic traders tried to measure the standard and magnitude of the disruption.

"The menace to information of proviso is present and now," Simone Tagliapietra, an expert astatine Bruegel, told Bloomberg. "The grade of it volition beryllium connected the duration of the shutdown, but we are present into a caller scenario."

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In Saudi Arabia, different drone onslaught caused a occurrence astatine the kingdom’s Ras Tanura lipid refinery, forcing a partial shutdown determination arsenic well.

Saudi authorities person not reported casualties, but the onslaught heightened fears of broader instability successful the Gulf’s vigor corridor, according to reports.

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