Qatar suspended liquefied natural gas production yesterday, causing a massive leap in prices, after Iranian strikes hit Gulf energy facilities in a new escalation of the Middle East war. QatarEnergy, one of the world's biggest LNG produ
AFP | Doha
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Qatar suspended liquefied natural gas production yesterday, causing a massive leap in prices, after Iranian strikes hit Gulf energy facilities in a new escalation of the Middle East war.
QatarEnergy, one of the world’s biggest LNG producers, made the shock announcement after two attacks on its facilities. A major Saudi oil refinery was forced into a partial shutdown after it was hit by two drones.
The Dutch TTF natural gas contract, considered the European benchmark for LNG prices, jumped almost 45 percent to more than 46 euros.
Qatar’s shutdown came after an Iranian drone targeted QatarEnergy’s Ras Laffan Industrial City and another a power plant at a key LNG production site.
“Due to military attacks on QatarEnergy’s operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City... QatarEnergy has ceased production of liquefied natural gas (LNG) and associated products,” a company statement said.
Meanwhile, a source close to the Saudi government warned that a “concerted” Iranian attack on oil facilities could trigger a military response.
The Gulf militaries have so far not hit back against Iran.
