QatarEnergy: Missile strikes cut LNG export capacity 17%, $20bn annual loss
- LNG Trains 4 and 6 were damaged, removing 12.8 MTPA (≈17% of exports); Train 4 is a QatarEnergy/ExxonMobil JV (66/34) and Train 6 is QatarEnergy/ExxonMobil (70/30).
- $20 billion per year in lost revenue is expected; repairs will take three to five years and may force majeure some long-term LNG contracts for up to five years.
- Pearl GTL lost one of two trains and is expected offline for a minimum of one year, affecting GTL fuels, base oils, paraffins and waxes.
- Associated product losses: condensates 18.6 million barrels (~24% of exports); LPG 1.281 MT (~13%); naphtha 0.594 MT (~6%); sulfur 0.18 MT (~6%); helium 309.54 MCFA (~14%).
Damage and capacity loss
Missile strikes on 18–19 March 2026 damaged Ras Laffan facilities, hitting LNG Trains 4 and 6 and removing 12.8 MTPA of liquefaction capacity (≈17% of Qatar’s exports); Train 4 is a QatarEnergy/ExxonMobil JV (66/34) and Train 6 is QatarEnergy/ExxonMobil (70/30).
Financial impact and timeline
Estimated lost revenue is about $20 billion per year; repairs are expected to take three to five years and some long-term LNG contracts may be placed under force majeure for up to five years.
Facilities and products affected
Pearl GTL lost one of two trains and is expected offline for at least one year, affecting GTL fuels, base oils, paraffins and waxes; associated product losses include condensates 18.6 million barrels (~24% of exports), LPG 1.281 Mt (~13%), naphtha 0.594 Mt (~6%), sulfur 0.18 Mt (~6%) and helium 309.54 MCFA (~14%).
Market and contractual implications
Supply to markets in Europe and Asia will be impacted, with specific effects noted for China, South Korea, Italy and Belgium.
Source: QatarEnergy