Qatar Loses 17% of LNG Capacity for 3-5 Years After Iran Strike
Updated
Updated · FX Empire · May 15
Qatar Loses 17% of LNG Capacity for 3-5 Years After Iran Strike
8 articles · Updated · FX Empire · May 15
Missile damage at Qatar’s Ras Laffan complex knocked out 17% of the world’s No. 2 LNG exporter’s capacity, with repairs expected to take three to five years and full recovery possibly stretching to 2029 or 2030.
About 20% of global LNG normally moves through the Strait of Hormuz, so Iran’s attack on Qatari energy sites and attempted disruption of the route sent Europe’s TTF gas benchmark up about 85% and Asian LNG prices up roughly 143%.
Europe faces the sharpest strain because it relies heavily on LNG after losing most Russian pipeline gas; analysts warn tight summer supplies could worsen into shortages, rationing or blackouts by winter 2026-27 if the war continues.
U.S. gas has stayed near $3-$3.50 per MMBtu because domestic output exceeds 100 billion cubic feet a day and LNG terminals are already near full use at roughly 14-19 bcf/d, limiting how much more can be exported.
That bottleneck leaves U.S. producers buying gas cheaply at home and selling LNG abroad for $15-$20, while new Gulf Coast terminals and more Permian associated gas could expand U.S. export capacity later this decade.
Could capturing wasted U.S. natural gas be the key to solving the global energy crisis?
With Qatar's supply crippled until 2030, can Europe avoid a catastrophic winter energy shortage?
Is the U.S.-Iran war the final blow to the dollar's reign in global oil trade?
After the Ras Laffan Attacks: The 17% LNG Supply Loss and Its Global Economic Fallout
Overview
In March 2026, Iranian missile and drone strikes hit Qatar’s Ras Laffan Industrial City, the world’s largest LNG facility, as direct retaliation for earlier Israeli attacks on Iran’s South Pars gas field. This escalation followed US and Israeli airstrikes on Iran, which caused over 1,340 deaths, including Iran’s Supreme Leader. Iran’s response targeted oil and gas sites across the Middle East, causing major infrastructure damage, global market disruptions, and international condemnation. The attack on Ras Laffan destroyed key LNG infrastructure, slashing Qatar’s export capacity and triggering a sharp rise in global energy prices, highlighting the vulnerability of critical energy supply chains.