KEY POINTS
- Qatar halted LNG production, affecting nearly 20% of global supply and sending gas prices sharply higher.
- Saudi Arabia, Israel, and Iraqi Kurdistan shut key oil and gas facilities as a precaution after drone and missile strikes.
- Oil prices surged above $82 per barrel, while global shipping through the Strait of Hormuz slowed amid rising tensions.
Fresh attacks across the Middle East have forced the shutdown of key oil and gas facilities in Qatar, Saudi Arabia, Iraq, and Israel, sending shockwaves through global energy markets and pushing oil and gas prices sharply higher.
The disruptions follow continued Iranian drone and missile strikes in response to earlier attacks by the United States and Israel. While many of the closures were described as precautionary, the scale of the shutdowns has raised serious concerns about global supply
Qatar, one of the world’s biggest suppliers of liquefied natural gas, LNG, suspended production at its massive gas facilities in Ras Laffan Industrial City.
State-owned QatarEnergy halted operations after Iranian drones reportedly struck parts of the sprawling industrial complex. Ras Laffan houses the country’s gas “trains” — giant processing units that cool natural gas into liquid form for export.
Qatar’s LNG accounts for roughly 20% of global supply, playing a vital role in meeting demand in both Asia and Europe. About 82% of QatarEnergy’s customers are in Asia.
Saudi Arabia’s Ras Tanura Refinery Shuts After Drone Strike
In Saudi Arabia, operations were suspended at the Ras Tanura refinery after drones targeted the facility.
The refinery, operated by Saudi Aramco, has a processing capacity of about 550,000 barrels per day. It is part of a major energy complex on the kingdom’s Gulf coast and also serves as a key export terminal for Saudi crude oil.
According to Saudi officials, two drones were intercepted at the site. Falling debris caused a small fire, but authorities said the situation was quickly brought under control. No injuries were reported, and the supply of petroleum products to local markets was not disrupted.
Still, some units at the refinery were shut down as a precaution.
Analysts say the attack marks a serious escalation, with Gulf energy infrastructure now directly in the line of fire.
