Things are just getting messier by the hour. QatarEnergy is the state-owned integrated energy company of Qatar. And they have just announced a stop to its LNG production and associated products. That follows attacks on its operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City.
For some context, Qatar ranks as among the top three LNG exporters in the world and controls roughly one-quarter of the projected global LNG supply for the next decade.
Their Ras Laffan facility in particular is dubbed the “LNG capital of the world”. The restricted access to the Strait of Hormuz is one that already impacts export capabilities from Qatar but adding this latest development in is sort of a double whammy. In any case, this will just continue to pile on the focus on energy prices to start the week.
And it also further reveals Iran’s tactical attacks on energy facilities across the region. From earlier: Saudi Aramco’s Ras Tanura refinery forced to shut down after reported drone attack
It really does seem that the Iranian playbook is to exert enough pressure on Gulf nations with chaotic and targeted strikes, so as to get these nations to ask for the US and Israel to stop the conflict.
