"The attack on Qatar's Ras Laffan Industrial City complex, which provides about 20 percent of global supplies of liquefied natural gas (LNG), has knocked out 17 percent of Doha's export capacity and would affect exports for up to five years."
"Natural gas prices in the EU have risen by more than 30 percent since the start of the war on February 28, spiking after Israel's attack on Iran's critical South Pars gasfield and subsequent Iranian attack on Qatar's Ras Laffan."
"Energy Commissioner Dan Jorgensen urged the bloc's members to get to work as early as possible in the coming months to mitigate pressure on prices and avoid an end-of-summer rush."
Iran's recent attack on Qatar's Ras Laffan Industrial City complex has caused a significant surge in global gas prices, impacting EU storage projections. The European Union has urged member states to begin preparations for next winter's gas storage targets, suggesting a reduction in the filling target by 10 percentage points. The attack has disrupted 17 percent of Qatar's export capacity, primarily affecting Asian buyers. Despite sourcing only 9 percent of LNG from Qatar, Europe faces increased competition due to the ongoing war and reduced tanker traffic in the Gulf.
Read at www.aljazeera.com
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