Gas prices on the European Stock Exchange witnessed a significant jump of one-third, recording their highest levels since December 2022, with the price of one cubic meter exceeding $850, according to TASS.
This rise comes in the wake of the Iranian attack that targeted Qatari oil facilities last Wednesday.
Qatar revealed serious damage to the Ras Laffan Industrial Complex, which is considered the world’s largest exporter of liquefied natural gas. Bloomberg described this attack as a new link in a series of dangerous escalation targeting the energy infrastructure in the Gulf region.
Authorities reported that an Iranian missile hit the facility after four other missiles were intercepted. In a related context, Abu Dhabi announced the closure of the facilities of the Habshan gas field as a result of the damage caused to the site as a result of falling debris resulting from the interception of a missile. A few hours later, Ras Laffan was subjected to a second attack at dawn on Thursday, followed by the outbreak of a large fire, and Qatar announced that it was working to extinguish it.
Qatar Energy confirmed that several LNG facilities within the complex were directly hit, causing “major fires and extensive additional damage.” She indicated that there were no injuries among the workers who had been evacuated previously. For its part, Washington intervened, as US President Donald Trump warned that the United States would “respond” if Qatari gas facilities were subjected to a new attack.
It is noteworthy that the Ras Laffan facility, which represented about 20% of global liquefied gas supplies before its sudden stop this month, was closed after an Iranian drone attack, which led to the cessation of production and the declaration of force majeure on shipments, which caused “major disruption” in the global gas market.
