Qatar's Minister of State for Energy, the Managing Director and CEO of QatarEnergy, Saad bin Sherida Al-Kaabi, stated that Iranian attacks have disrupted 17% of Qatar's capacity to export liquefied natural gas (LNG), causing an estimated $20 billion in annual revenue losses and threatening supplies to Europe and Asia. In an interview broadcast by the Qatari News Agency, he added that two out of 14 LNG processing units, as well as one of two gas-to-liquids plants, were damaged in these attacks. Al-Kaabi explained that repair work will lead to a halt in the annual production of 12.8 million tons of LNG for a period of three to five years. "In my worst nightmares, it never crossed my mind that Qatar, Qatar and the region, would be subjected to such an attack, especially from a brotherly Muslim country during the month of Ramadan, and in this manner," he said. He further clarified that QatarEnergy may be forced to declare force majeure on long-term contracts to supply LNG to Italy, Belgium, South Korea, and China due to the damaged processing units. The cost of building the damaged units is approximately $26 billion, and to resume production, we first need the fighting to stop. Previously, QatarEnergy had declared force majeure on its entire LNG production output following previous attacks on its production hub in Ras Laffan.
