Iranian missile strike knocks out 17% of global LNG supply
Updated
Updated · BBC.com · May 6
Iranian missile strike knocks out 17% of global LNG supply
9 articles · Updated · BBC.com · May 6
The 18 March attack hit Qatar's Ras Laffan complex, with QatarEnergy estimating $20bn in annual lost revenue and repairs taking three to five years.
The strike followed Israel's bombing of Iran's South Pars field and has disrupted Asian supplies, while the Strait of Hormuz closure has further choked Gulf oil and gas exports.
The World Bank cut Middle East growth to 1.8% from 4%, warning of long-term scarring as tourism, investment and regional reconstruction funding come under pressure.
As Gulf wealth turns inward for rebuilding, which global industries now face the biggest investment shock?
With Qatar's LNG crippled and the UAE out of OPEC, is the era of stable energy prices permanently over?
Gulf nations now doubt US protection. Is this conflict triggering a permanent geopolitical realignment in the Middle East?
Global Energy Shock 2026: The Ras Laffan Missile Strikes and the 17% LNG Supply Collapse
Overview
In March 2026, after Israel bombed a natural gas facility in Iran, Iran’s Revolutionary Guard threatened retaliation and soon launched missile strikes on Qatar’s Ras Laffan Industrial City. These attacks caused major damage to two of Qatar’s LNG trains and a gas-to-liquid facility, immediately cutting 17% of Qatar’s LNG export capacity. As a result, 12.8 million tonnes of LNG were removed from global markets, triggering a sharp drop in energy output and sparking global energy and economic instability. This sequence of events highlights how regional conflict can quickly disrupt critical energy infrastructure and impact worldwide supply.