Qatar lost 17% of liquefied gas exports; restoration of capacity will take up to five years

According to him, damage was caused to 14 LNG production lines and one of the two complexes producing liquefied gas. This will result in a loss of $20 billion in net profits annually. The world economy will be short of 12.8 million tons of liquefied gas per year.

“In my worst dreams, I could not imagine that Qatar and the region as a whole would be subjected to such an attack from a brotherly Muslim country during Ramadan,” al-Kaabi said. This could force the state-owned company to declare force majeure for up to five years on gas supply contracts to Italy, Belgium, South Korea and China.