economy
March 2, 2026
Iran strikes halt Qatar LNG output, shaking global energy markets
QatarEnergy said the attack hit its liquefied natural gas facilities at Ras Laffan Industrial City and Mesaieed Industrial City.
TL;DR
- Qatar halted liquefied natural gas (LNG) production due to drone attacks on two key operating facilities.
- The attacks were launched from Iran, which has widened retaliatory strikes to target regional energy infrastructure.
- Qatar is a major global provider of LNG, with about 20% of global LNG exports coming from the Gulf.
- European natural gas futures soared following the shutdown, with U.K. and Dutch futures spiking significantly.
- U.S. LNG exporters Cheniere Energy and Venture Global saw their shares jump.
- The attacks occurred in retaliation for U.S. and Israeli strikes that killed Iran's supreme leader.
- Saudi Aramco's Ras Tanura refinery was also attacked by a drone and closed as a precautionary measure.
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