Doha: A major escalation in tensions in the Middle East has disrupted global energy supplies after Iran carried out strikes on key gas facilities in Qatar, affecting one of the world’s largest sources of liquefied natural gas.
The attack targeted the Ras Laffan industrial area, a critical hub for gas production and exports. The strike came in response to earlier Israeli action on Iran’s South Pars gas field, raising fears of a widening conflict that is now affecting global energy markets.
Officials and industry reports indicate that about 17 percent of Qatar’s liquefied natural gas export capacity has been damaged. This could result in a loss of nearly 13 million tonnes of gas supply each year. Financial losses are estimated to be around 20 billion dollars annually, with repairs expected to take several years.
The impact is already being felt worldwide. Oil prices have surged past 100 dollars per barrel, while gas prices are also rising due to fears of supply shortages. Qatar has reportedly declared force majeure on some contracts, signalling that it may not be able to meet all its export commitments.
Asian countries are likely to be the most affected, as they depend heavily on Qatari gas. Major economies such as China, Japan, South Korea and India could face higher energy costs and possible supply disruptions.
Europe may also feel the impact, especially countries like Italy and Belgium, which rely on global gas markets. Although less dependent on Qatar than Asia, Europe could still face price increases and tighter supplies.
Developing countries such as Bangladesh and Pakistan are seen as the most vulnerable, as rising energy prices could place heavy pressure on their economies.
The situation has also increased risks to shipping routes, particularly through the Strait of Hormuz, a key passage for global oil and gas transport. Any disruption there could worsen the crisis.
Experts warn that the conflict is now moving beyond military confrontation and into the energy sector, with serious consequences for the global economy. If tensions continue to rise, the world could face a prolonged period of energy instability and higher costs.