Energy analysis and consultancy agency Wood Mackenzie stated the Ras Laffan assaults “fundamentally reshape [the] global LNG outlook” and the timeline for restoration was “likely significantly extended”.
“Market expectations had been for a short disruption, with a controlled restart restoring supply to pre-conflict levels by mid-2026. That outlook now appears increasingly unlikely,” stated Kristy Kramer, head of LNG technique and market improvement.
Nick Butler, former head of technique at BP and former adviser to Gordon Brown, agreed, that the market was now anticipating issues to worsen.
“This will almost certainly cut off a level of supply of LNG to the world market. The price of gas in the world market will therefore inevitably rise, because that gas can’t be substituted very quickly at all, and maybe not for a very long time.”
However, Favas stated prices had been nonetheless a good distance off the peaks seen within the aftermath of Russia’s invasion of Ukraine.
The head of QatarEnergy informed Reuters that Iran’s assaults had knocked out 17% of its LNG export capability and the harm would take three to 5 years to restore.
