Qatari LNG Exports Crash 96% as Iran Conflict Wrecks Energy Sector

Qatar's liquefied natural gas (LNG) exports have plummeted by an astonishing 96% in recent months, resulting in a whopping $24 billion loss for the country.

This drastic decline is largely due to attacks on oil infrastructure and the inability to physically move LNG to customers following the military conflict between the US and Iran.

The damage to Qatar's Ras Laffan Industrial City, its main energy hub and largest LNG production site, has severely impacted the nation's ability to export gas.

Before the war, Qatar supplied nearly one-fifth of the world's daily LNG demand, but unlike neighboring oil exporters, it lacks alternative export pipelines or bypass routes for its gas fleet.

In response to this crisis, Doha has implemented severe fiscal austerity measures, including slashing department budgets by up to 30% and cutting funding for overseas aid by about 85%.