Iran’s missile attacks have knocked out 17% of Qatar’s LNG export capacity. Restoring this will take between three and five years, during which 12.8 million tons of LNG per year will be out of operation, Saad al-Kaabi, CEO of Qatar Energy, the world’s largest producer of liquefied natural gas, told Reuters. He said that two of the 14 production trains and one of the two gas-to-liquids (GTL) plants were damaged.
“In my worst nightmares, I could never have imagined that Qatar – Qatar and the entire region – would be targeted by such an attack, especially from a fraternal Muslim country during the month of Ramadan,” said al-Kaabi, who is also Qatar’s Minister of Energy.
He estimated that the damage would cost the country 20 billion dollars in annual revenue, threatening supplies to Europe and Asia. QatarEnergy estimates that repairs could cost 26 billion dollars.
An Iranian attack on the Ras Laffan gas field, which hosts the QatarEnergy LNG complex, would have serious consequences for the global energy market, Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani said at a press conference, quoted by the Moscow Times. Qatar supplied 20% of the world’s LNG; the complex’s capacity was 77 million tons per year.
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