QatarEnergy says Iranian strikes cut 17% of LNG export capacity and could take up to five years to repair

What is Ras Laffan Industrial City?

Ras Laffan is Qatar’s main LNG production hub and a major part of the global gas supply chain; reports say it handles a large share of the world’s LNG exports and is operated by QatarEnergy BBC,MoneyControl,Yahoo! Finance.

Why are the strikes affecting global gas markets?

Because Qatar is a major LNG exporter, any prolonged outage at Ras Laffan can tighten supply and push prices higher; reports said gas prices rose after the attack and buyers in Europe and Asia were watching for disruptions BBC,Investing.com,MoneyControl,Yahoo! Finance.

Which customers could be affected first?

Reports said QatarEnergy may struggle to meet long-term LNG commitments to countries including Italy, Belgium, South Korea and China if the outages persist РИА Новости,Коммерсант.…,infobae,NDTV.