QatarEnergy has declared force majeure on several long-term liquefied natural gas supply contracts following Iranian missile strikes on key facilities at Ras Laffan Industrial City. The disruption is expected to affect buyers in South Korea, China, Italy and Belgium.
Iranian missiles struck Ras Laffan on March 18 and 19, damaging two LNG production trains and a gas-to-liquids facility. The attacks triggered fires and knocked out about 17 % of Qatar’s LNG export capacity ,roughly 12.8 million tonnes per year. Repairs are expected to take between three and five years, according to company officials.
The strikes come amid escalating tensions linked to the ongoing US-Israeli conflict with Iran, with Tehran increasingly targeting energy infrastructure across the Gulf. Qatar’s position near the Strait of Hormuz has added to concerns over wider disruptions to global LNG supplies.
The force majeure declaration protects QatarEnergy from contractual penalties, but major importers are now expected to turn to the spot market. Analysts warn this could push up global LNG prices, increase supply pressure in Asia and Europe, and boost demand for alternative suppliers, including the United States. QatarEnergy CEO Saad al-Kaabi described the damage as severe and long-lasting, raising concerns about prolonged volatility in global energy markets.
