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New Delhi, March 20: A missile attack on Qatar’s Ras Laffan Industrial City has disrupted global energy supplies. The attack has reduced Qatar’s liquefied natural gas (LNG) export capacity by 17%, raising serious concerns for countries like India.
Massive Impact on Qatar’s LNG Production
QatarEnergy confirmed that the attacks on March 18 and 19 caused heavy damage to key facilities.
Energy Minister Saad Sherida Al-Kaabi said the damage could take up to five years to repair. He added that the company may declare force majeure on long-term LNG contracts.
The disruption has also led to an estimated $20 billion annual revenue loss.
Key Facilities Hit
The attack damaged LNG production units, including Train 4 and Train 6. These units produce around 12.8 million tonnes per annum (MTPA), which accounts for nearly 17% of Qatar’s exports.
Train 4 operates as a joint venture with ExxonMobil, while Train 6 also involves the same partner.
The strike also affected the Pearl GTL facility, operated by Shell. This plant converts natural gas into cleaner fuels and industrial products.
India Faces Major Energy Risk
India relies heavily on Qatar for its LNG imports. Data from government sources shows that Qatar supplies nearly 47% of India’s total LNG needs.
In 2024, India imported 27.8 million metric tonnes of LNG. Qatar alone supplied 11.30 MMT worth $6.40 billion.
This disruption could impact gas availability and increase prices in India’s domestic market.
Global Impact on Energy Markets
The supply shock is expected to affect multiple countries, including China, South Korea, Italy, and Belgium.
Reduced LNG output could lead to higher global prices and increased competition for alternative energy sources.
Long-Term Concerns
Experts believe the crisis could create long-term instability in global energy markets. Countries dependent on imports may face higher costs and supply shortages.
The ongoing geopolitical tensions in West Asia continue to add uncertainty to global energy security.
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