QatarEnergy, the state-owned energy giant, has suspended operations at its massive Ras Laffan LNG complex—the world’s largest—following drone strikes launched from Iran. This disruption, tied to escalating US-Israel-Iran conflict, has spiked global gas prices by over 50% in key markets.
Incident Details
Two Iranian drones struck key facilities in Ras Laffan Industrial City, about 80 km north of Doha, and Mesaieed Industrial City, 40 km south, on March 1-2, 2026. Qatar’s Defense Ministry confirmed the hits on energy infrastructure and a power plant water tank, with no casualties reported. QatarEnergy halted LNG and related production to prioritize safety, affecting roughly 20% of global supply routed via the Strait of Hormuz.
Market Impact
European gas futures surged dramatically: UK prices jumped nearly 50%, Dutch TTF over 45%. US LNG exporters like Cheniere saw shares rise 6-14% amid tighter supply fears. Qatar’s output pause threatens energy security worldwide, exacerbating volatility from related Saudi Aramco refinery issues.
Broader Conflict Context
The strikes follow Iran’s retaliation for US and Israeli attacks killing its leader, Ayatollah Khamenei, intensifying Gulf tensions. Qatar’s facilities in Ras Laffan and Mesaieed are critical hubs; their shutdown marks a rare direct hit on neutral Qatar’s energy assets. Global markets brace for prolonged disruptions as Iran targets regional infrastructure.
