Report: Qatar LNG attack reshapes global gas market

Report: Qatar LNG attack reshapes global gas market An attack on Qatar’s Ras Laffan liquefied natural gas facility has significantly altered the global gas market outlook, the consultancy Wood Mackenzie said, warning of prolonged disruption to supplies. The UK-based firm said the damage to the key facility, following an earlier production halt and force majeure declaration, could extend recovery timelines. “Before the attacks, Wood Mackenzie forecast four to six weeks to ramp up Qatari LNG production to full capacity… The timeline is now expected to extend depending on the extent of damage and required repairs,” the consultancy said. It added that each additional month of disruption could remove about 1.5 percent from annual global LNG availability.

An attack on Qatar’s Ras Laffan liquefied natural gas facility has significantly altered the global gas market outlook, the consultancy Wood Mackenzie said, warning of prolonged disruption to supplies.

The UK-based firm said the damage to the key facility, following an earlier production halt and force majeure declaration, could extend recovery timelines.

“Before the attacks, Wood Mackenzie forecast four to six weeks to ramp up Qatari LNG production to full capacity… The timeline is now expected to extend depending on the extent of damage and required repairs,” the consultancy said.

It added that each additional month of disruption could remove about 1.5 percent from annual global LNG availability.