Qatar Energy confirmed that its Ras Laffan complex sustained extensive damage after multiple strikes, sparking significant fires. The facility accounts for roughly 20% of global LNG output.
While shipments had already been suspended earlier this month due to the conflict, the fresh attacks have raised fears of prolonged disruptions, potentially keeping gas prices elevated across Europe and Asia.In the UAE, Abu Dhabi’s Habshan gas facilities were also shut after being impacted by debris from an intercepted strike, adding to supply-side worries.
US President Donald Trump warned that Washington would respond if Qatar’s LNG infrastructure faces further attacks.
The full extent of the damage and the timeline for restoration remain unclear. Although much of the Middle East’s LNG exports are typically routed to Asia, any sustained disruption is expected to tighten global supply, pushing prices higher across regions.
For Europe, the situation is particularly challenging. The region is exiting winter with lower storage levels, meaning it will need to secure additional LNG cargoes in the coming months to rebuild reserves, potentially competing with Asian buyers for limited supplies.Arne Lohmann Rasmussen, chief analyst at Global Risk Management, said outages from Qatar could last months or even years in a worst-case scenario.
He added that the impact on gas markets could persist even after the conflict subsides and key shipping routes reopen.
The Ras Laffan facility had initially halted operations earlier this month following a drone strike, marking its first disruption in nearly 30 years.
Subsequent attacks, reportedly linked to retaliation for strikes on Iran’s South Pars gas field, have further damaged the broader complex, delaying any return to normal operations.
European benchmark Dutch front-month futures rose over 30% to €71.47 per megawatt-hour in early trade.
In the first week of the escalation between March 2 and 6, average gas prices in Europe surged nearly 50% to €45/MWh, up from €31/MWh prior to the conflict.
By March 9, one-month TTF futures had climbed to €56.4/MWh, marking their highest level since mid-February 2025.
With Bloomberg inputs
