Qatar's state energy company announced the suspension of liquefied natural gas (LNG) production after its plant was attacked by Iran, causing European natural gas futures prices to jump over 50%."}],
CNN reported that QatarEnergy, Qatar's state-owned energy company, revealed it has halted LNG production after Iran attacked the plant at the Ras Laffan industrial complex on Monday, 2 March 2026.
Per Magnus Nisven, a senior analyst at consulting firm Rystad Energy, stated that Qatar's decision, as one of the world's largest LNG exporters, will create a "domino effect" impacting global gas deliveries.
"Any disruption in the supply chain, including this production halt, will significantly affect the global market," he told CNN, noting that shipments to Asia, Qatar's largest buyer, as well as Europe, will be most heavily impacted.
Dutch TTF natural gas futures, the European benchmark, surged nearly 48% on Monday afternoon.
However, Nisven noted that given Europe's substantial LNG reserves, prices are unlikely to reach the "record highs" seen in 2022 during the energy crisis triggered by Russia's full-scale invasion of Ukraine.
QatarEnergy's plant was targeted by Iranian drones, similar to an attack on a power plant in Mesaieed, south of Doha, Qatar's capital. Nisven suggested the shutdown at Ras Laffan is likely due to operational and safety concerns.
According to data from the U.S. Energy Information Administration (EIA), Qatar is among the world's largest LNG producers, accounting for about 20% of global exports.
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Source:cnn