DOOMSDAY SCENARIO How an attack on 1 gas field triggered a huge crisis that could last for years: “I never in my wildest dreams thought this would happen” Escalating attacks on Middle Eastern oil and gas projects, notably Iran’s strikes on Qatar’s South Pars and Ras Laffan facilities, have triggered fears of a long-term global gas supply crisis. The damage to Qatar’s LNG infrastructure, which supplies a fifth of the global market, could take three to five years to repair, leading to significant price hikes and potential economic disruption worldwide. Markets have reacted sharply, with gas prices surging and analysts warning of a “doomsday gas crisis scenario.”

• Iran has launched attacks on key energy infrastructure in the Middle East, including Qatar’s South Pars gas field and Ras Laffan LNG processing plants.
• The attacks have caused significant damage to Qatar’s LNG facilities, with repairs expected to take three to five years, potentially leading to a prolonged global gas supply crisis.
• Qatar’s LNG exports accounted for one-fifth of the global market last year, with major implications for energy-importing nations, particularly in Asia.
• Iranian state media has warned that Saudi Arabia, UAE, and Qatar’s oil and gas targets are now legitimate threats, with specific facilities listed as potential next targets.
• Other energy infrastructure in Saudi Arabia, the UAE, and Kuwait have also been targeted by drones and missiles.
• Global gas markets have seen sharp price increases in response to the attacks, with European benchmarks rising significantly.
• Analysts warn of a potential “doomsday gas crisis scenario” with disruptions lasting months or even years.
• Oil prices are also expected to rise, with Brent crude potentially exceeding $120 per barrel.
• Former US President Donald Trump has warned Iran against further attacks on Qatar’s LNG facilities.