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2026-03-24 21:32:36
[Qatar Energy Declares Force Majeure, LNG Supply Faces Disruption Risk] ⑴ Qatar Energy announced that it has declared force majeure on LNG contracts with Italy, Belgium, and South Korea. The company stated that it is continuously assessing the full impact of recent events on its operations, including the missile attacks on the Ras Laffan production facility on March 18 and 19 that caused significant damage. ⑵ Ras Laffan is one of the world's largest LNG export hubs, and Qatar Energy's production capacity at that facility accounts for the vast majority of its total exports. This attack directly impacts LNG production and shipping capacity, posing a substantial threat to supplies to major importing countries in Europe and Asia. ⑶ Italy, Belgium, and South Korea are all major buyers of Qatari LNG. The declaration of force majeure means a temporary suspension of contract performance, requiring importers to urgently seek alternative sources of supply. With the Strait of Hormuz blocked and major production bases damaged, the global LNG supply chain is facing a double squeeze.
