March 4, 2026
World's largest LNG supplier QatarEnergy announces force majeure
One of the world's largest producers of liquefied natural gas, QatarEnergy, has announced a force majeure on its contracts. This is reported on the company's page on X. QatarEnergy's facilities were attacked by Iranian drones. In particular, a gas facility in Ras Laffan and another energy facility in Mesaieed were hit. After this, the company suspended LNG production. Following QatarEnergy, four major Qatari industrial companies announced production suspensions: petrochemical holding Mesaieed Petrochemical, Qatar Aluminium, Gulf International Services, and industrial conglomerate Industries Qatar. Qatar is one of the world's largest LNG exporters, accounting for approximately 20% of global exports. The Bell reported that after QatarEnergy suspended production, LNG prices in Europe sharply accelerated their growth. They are now a third higher than on February 27, at 45 euros per megawatt-hour. This is equivalent to 470 euros per thousand cubic meters.
TL;DR
- QatarEnergy declared force majeure on its contracts following drone attacks.
- Attacks targeted gas facilities in Ras Laffan and Mesaieed.
- Production of liquefied natural gas (LNG) has been suspended.
- Four other major Qatari industrial companies have also suspended production.
- Qatar accounts for about 20% of global LNG exports.
- European LNG prices have increased significantly, now at 45 euros per megawatt-hour.
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