Missile Damage at Qatar's Ras Laffan LNG Hub Raises Global Supply Fears

• Two liquefaction trains at Qatar's Ras Laffan LNG complex severely damaged by Iranian missile strikes, potentially offline for years.
• Ras Laffan, the world's largest LNG export facility, faces prolonged output reduction, tightening global supply for Europe and Asia.
• Disruption complicates efforts to rebuild gas and LNG inventories for winter demand, pointing to firmer prices and a fragile supply outlook until 2027.
• Iran retaliated by targeting Ras Laffan after Israel hit Iran's South Pars gas field, escalating conflict and involving Gulf energy infrastructure.
• Ras Laffan produces nearly 20% of global LNG supply, playing a key role in balancing demand across Asian and European markets.