Missile attack on gas facilities in Qatar
A series of attacks on Qatar's major LNG production hubs has led to a significant disruption in global gas supply and price volatility. As the activation of major projects is delayed due to the impact of the attacks, uncertainty in the markets is growing as repairs drag on.
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At the beginning of March, Qatar's Ras Laffan and Pearl GTL liquefied natural gas (LNG) facilities were targeted by missile attacks. Following the attacks, the country's LNG production was completely halted due to fires and extensive damage in the region, creating a serious supply deficit in the global gas market.
After the missile attacks, approximately 19 percent of Qatar's LNG production went offline. While this development has caused major volatility in global energy markets, experts point out that supply issues could persist for a long time.
Following the halt in LNG production since March 2, a "force majeure" was declared in the country as of March 4. New attacks occurring a few days apart also caused additional damage to the facilities. Most recently, it was reported on March 18 that the Pearl GTL facility sustained heavy damage.
Qatar's new LNG expansion project, called North Field East, was expected to become operational in November 2026 and provide an additional capacity of 32 million tons per year. However, due to the damage at the facilities, it is anticipated that the project's completion date will be postponed and the capacity increases planned for the 2027-2028 period will be reviewed.
"We estimated that it would take 4 to 6 weeks for LNG production to reach full capacity. However, due to the extent of the damage and the necessary repairs, this period is expected to be longer. A controlled restart was expected to return LNG supply to pre-conflict levels by mid-2026. However, this scenario now seems increasingly less likely. A longer-lasting disruption will further tighten global supply and cause prices to remain high for a longer period," the statement read.
The attacks on energy facilities in Qatar are expected to continue to affect both regional security and global gas trade in the long term. Experts point out that with potential new developments, volatility in global energy markets may increase.