Gas prices soar as QatarEnergy halts LNG production after Iran attacks Qatar’s state-run energy firm, QatarEnergy, announced it has suspended liquefied natural gas (LNG) production following Iranian attacks on its facilities, triggering a sharp rise in gas prices across Europe and Asia. The decision comes amid heightened tensions in the region, as Saudi Arabia also reported a drone attack on its Ras Tanura oil refinery, which temporarily halted operations. QatarEnergy stated in a Monday statement that the attacks on its facilities in Ras Laffan Industrial City and Mesaieed Industrial City forced the halt in LNG production. The company confirmed that two drones launched from Iran targeted its infrastructure, with one striking a water tank at a power plant in Mesaieed and the other hitting an energy facility in Ras Laffan. No casualties were reported, though the extent of damage remains under assessment. The attacks coincided with a surge in global energy prices. Benchmark Dutch and British gas prices jumped nearly 50 percent, while Asian LNG prices rose almost 39 percent. The Dutch TTF natural gas contract, a key European price indicator, climbed over 25 percent in the morning, reaching 39.40 euros per megawatt hour. Asian LNG benchmarks, such as the S&P Global Energy Japan Korea Marker (JKM), also saw significant gains, hitting $15.068 per million British thermal units. Saudi Arabia’s Ministry of Defence reported that two drones attempted to attack the Ras Tanura refinery, a critical oil processing facility near Dammam. A small fire broke out after the drones were intercepted, but the refinery sustained limited damage. The facility, capable of processing 550,000 barrels of oil per day, is a cornerstone of Saudi Arabia’s energy sector.#iran #qatarenergy #ras_laffan_industrial_city #mesaieed_industrial_city #ras_tanura_refinery
