Morgan Stanley raised expectations for the Asian natural gas market due to damage to the Qatar liquefied natural gas project.

Due to missile attacks damaging two of the 14 production lines at the Qatar Ras Laffan liquefied natural gas complex, disrupting global liquefied natural gas supply, Morgan Stanley has raised its forecast for Asian liquefied natural gas prices for 2026-2028. Analysts, including Devin McDermott, indicated in a report on March 19 that the JKM liquefied natural gas price is expected to remain at $30 per million British thermal units in the remaining time of 2026, at the upper range of the previous forecast of $25-30. Prices are expected to be $15 in 2027 and $12.50 in 2028, higher than the previous two years of below $10. A 4% supply gap is expected in 2026, while the prolonged shutdown of two trains will affect the forecast of supply surplus in 2027-2028. The bank expects the shutdown time for Qatar and UAE export facilities to be 2 months, higher than the previous estimate of 4-6 weeks.