Ras Laffan LNG Shutdown: Shock to European Gas Market

QatarEnergy's decision to halt liquefied natural gas (LNG) production at Ras Laffan, following military attacks, has sent shockwaves through the European gas market.

Prices in Europe surged by up to +45%, intensifying inflationary pressures and concerns about supply security.

QatarEnergy announced that unmanned aerial vehicles targeted facilities at Ras Laffan, leading to the suspension of LNG production.

Dutch benchmark contracts traded at +45.20%, at 46.405 euros/MWh, reflecting fears of shipping disruptions from the Middle East.

The current crisis threatens to become the most serious disruption to gas markets since Russia's invasion of Ukraine.

US President Donald Trump said the war in Iran could last "four to five weeks."

Delays and rerouting are observed in LNG tankers to Qatar and the UAE.

Qatar announced a temporary suspension of maritime transport.