Fireleap
927 posts
Providing an update on the damage from the missile attacks on Ras Laffan Industrial City H.E. Minister Saad Sherida Al-Kaabi: The missile attacks reduced Qatar’s LNG export capacity by 17% and caused an estimated loss of $20 billion in annual revenue - Extensive damage to our production facilities will take up to five years to repair and will compel us to declare long-term force majeure QatarEnergy expects the damage to its Ras Laffan Industrial City caused by missile strikes, which occurred on Wednesday 18 March 2026, and in the early hours of Thursday 19 March 2026, to cost about $20 billion a year in lost revenue and to take up to five years to repair, impacting supply to markets in Europe and Asia. Providing an update on the damage to the facilities at Ras Laffan Industrial City, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said “I am relieved to confirm that no one was injured by these unjustified and senseless attacks, which weren’t just an attack on the State of Qatar but attacks on global energy security and stability. This was an attack on all of us who stand for development and human progress that is sustained by a fair, reliable, and secure access to energy.” The attacks damaged two liquefied natural gas (LNG) producing Trains 4 and 6 totaling 12.8 million tons per annum (MTPA) of production, representing approximately 17% of Qatar’s exports. Train 4 is a joint venture between QatarEnergy (66%) and ExxonMobil (34%), and Train 6 is a joint venture between QatarEnergy (70%) and ExxonMobil (30%). His Excellency Minister Al-Kaabi said: “The damage sustained by the LNG facilities will take between three to five years to repair. The impact is on China, South Korea, Italy and Belgium. This means that we will be compelled to declare force majeure for up to five years on some long-term LNG contracts.” The attacks also targeted the Pearl GTL (Gas-to-Liquids) facility, a production sharing agreement operated by Shell, that converts natural gas into high-quality cleaner burning drop-in fuels and produces base oils used to make premium engine oils and lubricants, and paraffins and waxes. “The damage caused to one of the two trains at Pearl GTL is being assessed and is expected to be offline for a minimum of one year” His Excellency Minister Al-Kaabi added. It should be noted that there will be a loss of associated product production due to this outage as follows: · Condensates: 18.6 million barrels which is around 24% of Qatar’s exports · LPG: 1.281 MT which is around 13% of Qatar’s exports · Naphtha: 0.594 MT which is around 6% of Qatar’s exports · Sulfur: 0.18 MT which is around 6% of Qatar’s exports · Helium: 309.54 MCFA which is around 14% of Qatar’s exports His Excellency the Minister of State for Energy Affairs, the President and CEO of QatarEnergy paid tribute to the Qatari military and security forces and to the energy sector emergency response teams whose courage and extraordinary professionalism ensured the situation was contained quickly and safely. #Qatar
Deleting the below tweet(s) Despite the *unconfirmed*, too many running with it as fact, and was increasingly uncomfortable keeping it up No other confirmations yet (or official denials, which is also weird) but after this long you’d expect more if it were real
ALUMINUM FALLS MORE THAN 8% ON LME, BIGGEST DROP SINCE 2018
Global Chemicals: Disruption Playbook From HSBC.