economy
Iran attack wipes out 17% of Qatar’s LNG capacity for up to five years, QatarEnergy CEO says: Reuters
QatarEnergy CEO Saad al-Kaabi said two of Qatar's 14 LNG trains and one of its two gas-to-liquids facilities were damaged in the unprecedented strikes by Iran.
TL;DR
- Iranian attacks have reduced Qatar's LNG export capacity by 17%.
- Two LNG trains and one gas-to-liquids facility were damaged, impacting production for three to five years.
- Estimated annual revenue loss is $20 billion.
- QatarEnergy may declare force majeure on contracts for supplies to Italy, Belgium, South Korea, and China.
- ExxonMobil is a partner in the damaged LNG facilities.
- Exports of condensate, LPG, helium, naphtha, and sulphur will also decrease.