Iran War Reshapes Global Gas Market: Qatar Outage Sparks Crisis

• Qatar's Ras Laffan LNG plant closure due to Iranian drone attacks has severely impacted global gas supply, with repairs potentially taking up to five years.
• The conflict has disrupted the entire energy supply chain, causing surging fuel prices, cooking gas shortages, and concerns over diesel and fertilizer.
• The outage has erased an expected global gas glut, creating a deficit that could become the largest LNG outage in history if it extends beyond three months.
• Emerging economies in Asia, heavily reliant on Qatari LNG, face immediate and severe consequences, including potential power shortages and industrial shutdowns.
• The crisis forces a re-evaluation of LNG expansion plans, pushing some nations towards increased coal reliance and benefiting other producers like the US and Australia.