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Qatar says Iran attacked LNG hub; UAE shuts gas facilities - Reuters

What happened

Pearl Harbor in meeting with Japanese PM">Iran attacked Qatar's Ras Laffan LNG facility, damaging infrastructure that produces 17% of Qatar's liquefied natural gas export capacity. QatarEnergy's CEO says repairs will take three to five years. European gas prices jumped 35% as buyers scrambled to find alternative suppliers, with many turning to the US.

Why people care
Qatar is one of the world's largest LNG exporters, supplying critical energy to Europe and Asia. The attack removes a major chunk of global gas supply for years, forcing countries to compete for remaining supplies and driving up energy costs worldwide.
The takes
Energy markets say

This is a massive supply shock that will reshape global energy flows for years. With 17% of Qatar's capacity offline and repairs taking up to five years, buyers are desperately seeking alternatives, driving prices through the roof.

Traders say

While the immediate price spike is dramatic, markets will eventually adjust as US suppliers ramp up production and other exporters fill the gap. The real question is whether this becomes a sustained conflict affecting more facilities.

Sources
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