Qatar-Iran Strikes Disrupt Global LNG Markets

A recent attack on Qatar's North Field and Iran's South Pars has sent shockwaves through global liquefied natural gas (LNG) markets, disrupting a major part of the world's gas system.

The strikes hit a shared structure spanning approximately 9,000 square kilometers on the Qatar Arch, affecting 25% of the world's gas resources and supplying 10% of global production.

In Qatar, the attacks have removed around 4.5 billion cubic feet per day (bcfd) of gas-processing capacity, accounting for roughly 17% of Qatar's LNG export capacity and 35% of its domestic gas supply.

According to Wood Mackenzie, repairs are estimated at US$5.8 billion with recovery timelines stretching up to 12 months.