Middle Eastern energy facilities attacked, Qatar loses nearly 20% of liquefied natural gas export capacity.

This week, multiple energy facilities in the Middle East were attacked, further exacerbating concerns about energy supply in the market. Among them, the liquefied natural gas facilities in Qatar's Ras Laffan Industrial City were severely damaged, with 2 out of 14 production lines seriously affected, resulting in the loss of about 17% of liquefied natural gas export capacity, equivalent to an annual reduction of 12.8 million tons. Qatar Energy Company estimates that this will result in a loss of approximately $20 billion in annual revenue for Qatar, and the repair work may take up to five years to complete. Meanwhile, missile interception fragments led to the closure of an important natural gas facility in the UAE; a refinery in Bahrain announced entry into force majeure after being attacked; and Iraq significantly reduced production from southern oil fields. On the evening of the 20th, sources in the Iraqi Ministry of Oil stated that current production at Basra Oil Company has dropped to approximately 30% of levels before February 28th. In addition, while certain Gulf export hubs were not directly damaged, they have been affected by security threats, interception actions, and preventive shutdowns, leading to operational disruptions.