'Iran attack damages 17% of Qatar LNG capacity, repairs may take up to five years': QatarEnergy CEO

Iran’s attacks on Qatar have damaged facilities responsible for 17% of the company’s liquefied natural gas export capacity, with repairs expected to take three to five years, QatarEnergy CEO Saad al-Kaabi told news agency Reuters on Thursday (March 19). "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," he ⁠said.

The situation has escalated turmoil in global oil and gas markets following an Iranian missile strike on Ras Laffan, Qatar’s largest LNG facility. The Gulf region has faced intensified fallout as Iran retaliates against US-Israeli strikes that ignited a broader Middle East conflict. Tehran has targeted US-linked assets while also hitting energy infrastructure, angering hydrocarbon-rich Gulf states.

Also Read: 'It takes money to kill bad guys': Pentagon defends $200 billion for Iran war as Hegseth says number 'could move'

The strike on the world’s largest LNG facility forced a complete shutdown of production at the site. Qatar remains one of the leading LNG producers globally, alongside the United States, Australia, and Russia. Earlier in March, Iran had already launched missile attacks on Qatari gas fields, prompting QatarEnergy to suspend production temporarily. These actions were reportedly in response to an Israeli strike on Iran’s South Pars gas field, part of the world’s largest natural gas reserve.

Meanwhile, global energy markets have been rattled further as tanker movement through the Strait of Hormuz, a key route for about one-fifth of the world’s oil supply, has slowed significantly amid fears of escalating attacks.

Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online, and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos, and videos.