PiCK
Qatar LNG supply chain crippled by Iranian airstrikes… “Supply disruptions could last up to five years”
Uk Jin
Summary
- Iran’s attack reportedly dealt a major blow to Qatar’s LNG supply chain.
- He said the damage will halt 12.8 million tons of LNG production annually for three to five years.
- Qatar is reported to face about $20 billion in annual losses and is expected to declare force majeure on long-term LNG contracts.
Forecast Trend Report by Period
Iran’s attack is reported to have dealt a major blow to Qatar’s liquefied natural gas (LNG) supply chain.
According to Reuters on the 19th (Korea time), Saad al-Kaabi, CEO of QatarEnergy, said, “Iranian airstrikes damaged parts of LNG production facilities, suspending output of 12.8 million tons a year for three to five years.”
The damage is estimated to cost Qatar about $20 billion a year in losses.
In the wake of the incident, Qatar is expected to declare force majeure on long-term LNG contracts supplying Italy, Belgium, South Korea, China and other countries.
Al-Kaabi said, “This attack has set the energy industry back 10 to 20 years.”
Uk Jin
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