economy
March 20, 2026
Qatar announces multi-year pause in LNG supplies: Italy, Belgium, and China among those affected
Iranian attacks destroyed 17 percent of Qatar's liquefied natural gas (LNG) export capacity, and their restoration could take three to five years, QatarEnergy CEO Saad al-Kaabi said on Thursday, hinting at a possible pause in supplies to Italy, Belgium, China, and South Korea.
TL;DR
- Iranian attacks destroyed 17% of Qatar's LNG export capacity.
- Repairs are estimated to take three to five years.
- This will halt the delivery of 12.8 million tons of gas annually.
- QatarEnergy is declaring force majeure on long-term contracts with Italy, Belgium, China, and South Korea.
- The attacks caused an estimated $20 billion in lost annual revenue and $26 billion in reconstruction costs.
- Partners in the damaged LNG facilities include ExxonMobil.
- Exports of condensate, LPG, helium, light oil products, and sulfur will also be reduced.