Qatar warns Iran war could halt Gulf energy exports ‘within weeks’
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Qatar's Energy Minister Saad al-Kaabi has warned that a prolonged war with Iran could halt Gulf energy exports within weeks, affecting global economies. The warning comes as Qatar halted liquefied natural gas (LNG) production in response to Iranian missile and drone attacks on the country and its neighbors. LNG production from Qatar accounts for about 20% of global supply and plays a key role in balancing Asian and European markets' demand. Al-Kaabi stated that if the war continues, GDP growth worldwide will be impacted, leading to higher energy prices, shortages, and chain reactions among factories. He also expects all Gulf exporters to call force majeure, freeing them from liability or obligations due to extraordinary events. The minister estimated it would take Qatar weeks to months to return to normal deliveries even if the war ended immediately.
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