economy
March 20, 2026
Events in Middle East will have long-term consequences for energy sector
"Figuratively speaking, the situation on international energy markets and its future dynamics can be described as follows: only the bears are resting, and only the bulls are working hard," Alexey Miller added
TL;DR
- Extraordinary events at Middle East energy facilities are causing long-term consequences.
- Gas prices on the ICE in London exceeded $850 per 1,000 cubic meters, a 30% surge.
- Attacks damaged Qatar Energy's LNG plant in Ras Laffan.
- Work at Abu Dhabi's Habshan natural gas processing complex was halted due to a missile attack.
- A fire broke out at facilities in Iran's South Pars field following an Israeli and US strike.
- Iran's IRGC threatened to attack oil and gas facilities in Saudi Arabia, UAE, and Qatar.
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