Iran attack wipes out 17% of Qatar's LNG capacity for up to 5 yrs
16 hours ago
- #Qatar
- #LNG
- #Iran
- Iranian attacks have knocked out 17% of Qatar’s LNG export capacity, causing an estimated $20 billion in lost annual revenue.
- Two of Qatar’s 14 LNG trains and one gas-to-liquids (GTL) facility were damaged, sidelining 12.8 million tons per year of LNG for 3-5 years.
- QatarEnergy may declare force majeure on long-term LNG contracts for up to five years, affecting supplies to Italy, Belgium, South Korea, and China.
- ExxonMobil, a partner in the damaged LNG facilities, holds a 34% stake in LNG train S4 and a 30% stake in train S6.
- Qatar’s exports of condensate will drop by 24%, LPG by 13%, helium by 14%, and naphtha and sulfur by 6%.
- The damaged units cost approximately $26 billion to build.
- QatarEnergy had previously declared force majeure on its entire LNG output after earlier attacks on its Ras Laffan production hub.
- Production restart depends on the cessation of hostilities.