Qatar will lose $20 billion due to the knockout of 17% of LNG capacity by Iranian strikes.
Iranian strikes have knocked out 17% of Qatar's liquefied natural gas export capacity, QatarEnergy's chief executive told Reuters.
He estimates this will result in a loss of $20 billion in annual revenue and threaten supplies to Europe and Asia. QatarEnergy may be forced to declare force majeure on long-term LNG supply contracts to Italy, Belgium, South Korea, and China for up to five years.
Two of Qatar's 14 LNG trains and one of its two gas-to-liquid fuel plants were damaged.
Due to repair work, 12.8 million tons of LNG per year will be decommissioned over three to five years.
