DOHA — The chief executive of QatarEnergy","Qatari state-owned energy company"], Saad al-Kaabi, said Thursday that recent Iranian attacks have disrupted 17% of Qatar’s liquefied natural gas (LNG) export capacity, causing estimated annual revenue losses of around $20 billion and threatening supplies to Europe and Asia.
In an interview with Reuters, al-Kaabi explained that two of Qatar’s 14 LNG processing units, along with one gas-to-liquids plant, were damaged in the unprecedented attacks. He added that repair work could halt production of 12.8 million tons of LNG annually for a period of three to five years.
“Never in my worst nightmares did I imagine that Qatar, and the region, would face such an attack, especially from a fellow Muslim country during Ramadan, and in this manner,” al-Kaabi said.
The attacks came hours after Iran launched a series of strikes on oil and gas facilities in the Gulf, reportedly in response to Israeli actions targeting regional gas infrastructure.
Al-Kaabi noted that state-owned QatarEnergy may be forced to invoke force majeure clauses on long-term LNG supply contracts lasting up to five years to Italy, Belgium, South Korea, and China, due to the damage sustained to the processing units.
The fallout extends far beyond LNG. Qatar’s condensate exports are expected to drop by 24%, while LPG output could fall 13%. Helium production is projected to decline 14%, and both naphtha and sulfur output could decrease by 6%.
The CEO estimated that rebuilding the damaged units would cost approximately $26 billion, highlighting the severe financial and strategic impact of the attacks on Qatar’s energy sector.
