QatarEnergy CEO Saad al-Kaabi confirmed on Thursday, 19 March 2026, that Iranian missile strikes have knocked out 17% of Qatar’s liquefied natural gas (LNG) export capacity. The damage is estimated to sideline production for three to five years and results in approximately $20 billion in lost annual revenue.
The strikes targeted the Ras Laffan Industrial City, the world’s largest LNG export hub.
Two of Qatar’s 14 LNG production “trains” and one gas-to-liquids (GTL) facility were severely damaged.
Approximately 12.8 million tons per year of LNG capacity is now offline.
QatarEnergy has extended declarations of force majeure on long-term contracts supplying Italy, Belgium, South Korea, and China.
Beyond LNG, exports of condensate are projected to drop by 24%, helium by 14%, and liquefied petroleum gas (LPG) by 13%.
The attack was part of a broader retaliatory campaign by Iran following Israeli strikes on Iran’s own South Pars gas field.
Following the news, European gas prices surged by as much as 35%, while Brent crude briefly jumped above $119 per barrel.
Qatar has condemned the attacks as a “direct threat” to national security and has expelled Iran’s military and security attachés.
President Donald Trump warned that any further attacks on “innocent” nations like Qatar would result in the U.S. destroying the entire South Pars gas field.
