QatarEnergy Declares Force Majeure After Iranian Drone Strike Shuts Key LNG Hub

QatarEnergy has declared force majeure to its customers following a halt in liquefied natural gas (LNG) production, a major shock to global gas markets. The declaration comes after an Iranian drone strike earlier this week forced the shutdown of the Ras Laffan export hub, Qatar's top LNG facility, for the first time in three decades. Qatar accounts for approximately 20% of global LNG exports, with 80% of its volumes destined for Asia. The immediate shutdown and the declaration of force majeure have severely damaged Qatar's long-standing reputation as the world's most reliable LNG supplier. Wall Street analysts suggest the attack may permanently weaken Qatar's ability to command premium pricing and secure long-term contracts, as Asian customers may reconsider their supply dependencies. The duration of the shutdown at the world's leading LNG exporter is unknown. Restarting gas liquefaction after a full shutdown can take up to two weeks, with an additional two weeks required to return to full capacity. This event represents one of the biggest energy shocks for QatarEnergy's chief, Saad Sherida Al-Kaabi.