Liquefied natural gas: the overlooked economic chokepoint

GateUser-9ad11037 · 2026-03-11T12:10:59+00:00

Qatar's energy minister warned that recent Iranian strikes on QatarEnergy production facilities could destabilize the global economy. With LNG production halted and contracts declared void, LNG prices have surged, impacting customers worldwide.

GateUser-9ad11037

2026-03-11 12:10:59

Abstract generation in progress

“THIS WILL bring down the economies of the world,” warned Saad al-Kaabi, Qatar’s energy minister, on March 6th. It was not hyperbole. Days earlier QatarEnergy, which produces a fifth of the world’s liquefied natural gas (LNG), shut down its production and export facilities after some were hit by Iranian strikes. Unable to extract, process and, because the Strait of Hormuz is all but blocked by the fighting, ship its LNG, the firm has declared force majeure on its contracts. The price of LNG has ballooned on world markets. Customers the world over, who use it to generate electricity, heat homes and make things like fertiliser, are scrambling to respond.

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