On March 19, 2026, QatarEnergy's CEO, Saad al-Kaabi, announced that recent Iranian missile strikes had knocked out 17% of Qatar’s LNG export capacity. The attacks have caused extensive damage to two of Qatar’s LNG trains and one of its gas-to-liquids (GTL) facilities. This disruption is projected to result in an estimated $20 billion in lost annual revenue, significantly affecting global energy supplies.

Qatar, a major player in the global LNG market, has declared "force majeure" on its long-term contracts due to these damages, which will impact shipments to countries including Italy, Belgium, South Korea, and China. Al-Kaabi emphasized that they had previously made a shorter-term declaration but now face disruptions that could last for a more extended period.

Al-Kaabi expressed disbelief regarding the attacks, particularly coming from Iran, a nation with which Qatar shares cultural ties, and noted the timing during the month of Ramadan. He stressed, “I never in my wildest dreams would have thought that Qatar would be attacked in this way.”

The facilities targeted in the strikes were among those central to Qatar's energy infrastructure, and the damage could take three to five years to repair. In addition to LNG, the impact extends to other exports, with significant falls in production of condensate (24%), liquefied petroleum gas (LPG) (13%), helium (14%), and naphtha and sulphur by around 6%.

Al-Kaabi noted that the reconstruction of the damaged facilities, which cost approximately $26 billion to build, would be heavily affected by ongoing hostilities in the region. He asserted that "for production to restart, first we need hostilities to cease."

The geopolitical situation remains tenuous, particularly as fears of further Iranian retaliation persist, especially after Israeli strikes on Iranian gas infrastructure triggered this series of attacks. This escalation greatly complicates the energy landscape, affecting both regional and global supplies significantly.