Iran Strikes Slash 17% of Qatar’s LNG Capacity for Five Years, CEO Reveals
Iran strikes have removed 17% of Qatar’s LNG capacity and could keep it offline for up to five years, the CEO reveals. Filmogaz.com reports the hit will cut about $20 billion in annual revenue. QatarEnergy chief Saad al-Kaabi provided the figures.
Scale of the damage
Two of 14 LNG trains were damaged. One of two gas-to-liquids plants was hit.
The attacks sidelined 12.8 million tonnes per year of LNG. Repairs will take between three and five years.
Kaabi estimated the damaged units cost roughly $26 billion to build.
Supply contracts and force majeure
QatarEnergy will declare force majeure on long-term LNG contracts. The move could last up to five years.
Supply obligations affected destinations include Italy, Belgium, South Korea, and China. Earlier, a shorter force majeure covered all output.
Partners and repair timelines
ExxonMobil holds stakes in the damaged LNG trains. It owns 34% of train S4 and 30% of train S6.
Shell is a partner in the damaged GTL facility. That GTL unit may take up to a year to repair.
Train S4 serves customers including Italy’s Edison and Belgian buyers. Train S6 affects South Korea’s KOGAS and Asian partners.
Wider economic fallout
The damage extends beyond LNG. Qatar’s condensate exports will fall by about 24%.
LPG volumes are forecast to drop 13%, helium production 14%, and naphtha and sulphur about 6% each.
These declines affect global industries. LPG shortages hit restaurants in India. Helium shortfalls imperil chipmakers in South Korea.
Project delays and regional impact
Work on the North Field expansion is on hold. The delay could exceed one year.
Kaabi warned the strikes set the region back a decade or more. He called for protection of oil and gas infrastructure.
Next steps
Production cannot resume until hostilities stop, Kaabi said. Repair schedules depend on security and access.
Filmogaz.com will continue to follow developments and report updates on timelines and contract outcomes.
