Iran Conflict Disrupts Qatar's LNG Exports, Impacting Global Natural Gas Market

The ongoing conflict in Iran has severely damaged Qatar's Ras Laffan LNG terminal, raising gas prices worldwide. The terminal's operational halt could lead to a prolonged shortage in the natural gas market, exacerbating the second gas crisis in recent years. The energy market is already destabilized, with rising fuel prices affecting various sectors, including agriculture. Pakistan, reliant on Qatari LNG for 99% of its imports, warns of potential electricity shortages by mid-April due to supply disruptions.

Published Mar 21, 2026

The Iranian conflict has caused significant damage to Qatar's Ras Laffan LNG terminal, leading to soaring gas prices globally. With the terminal's operations halted, it may take months for it to resume even after the conflict ends, contributing to a second gas crisis in four years.

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This ongoing situation is harming industrial demand, with potential irreparable effects. The Hormuz crisis has eliminated the previously expected LNG surplus, while Asian emerging economies continue to purchase the majority of Qatari LNG. Pakistan, which depends on Qatar for its LNG imports, has already warned of possible electricity shortages by mid-April due to these supply issues, affecting its textile industry and overall production.