Qatar Braces for Lengthy Shutdown at Ras Laffan, Begins Leasing Idle LNG Tankers

Here are three things to know about the global LNG market this week

NO. 1: QatarEnergy’s CEO Saad Sherida Al-Kaabi told the Financial Times the country would not be able to restart LNG production at its shuttered Ras Laffan Industrial complex until the conflict raging in the Middle East ends completely.

At that point, he said it could take weeks to resume production and begin normal deliveries again. He also said the company is examining damage to its LNG facilities. If the war stretches on, Al-Kaabi said all of the Persian Gulf’s energy exports could be halted, pushing oil as high as $150/bbl, which could “bring down economies of the world,” according to the report.