Qatar reports its gas export capacity is affected long-term
Specifically, the executive assured that this measure will affect liquefied natural gas export contracts with China, South Korea, Italy, and Belgium.
TL;DR
- Qatar declared force majeure on QatarEnergy contracts following an Iranian missile attack on the Ras Laffan plant.
- The attacks caused an estimated $20 billion in annual revenue loss.
- Repairs to the damaged production facilities are expected to take three to five years.
- Export contracts for liquefied natural gas with China, South Korea, Italy, and Belgium will be affected.
- The attack damaged production lines 4 and 6, jointly managed with ExxonMobil, and the Pearl GTL plant managed by Shell.
- The Pearl GTL plant is expected to be out of service for at least a year, impacting condensate, LNG, naphtha, sulfur, and helium exports.