Qatar LNG Hit Turns Into Multi-Year Crisis

Qatar’s LNG outage will span years. Repairs to damage at Qatar’s massive Ras Laffan complex will take three to five years to complete, according to QatarEnergy CEO Saad al-Kaabi, cited by Reuters, turning what markets initially treated as a wartime disruption into a lengthy structural supply loss. About 17% of Qatar’s LNG export capacity is now effectively sidelined for years to come. Up until now, traders were focused on the timing. When flows might resume, when the Strait of Hormuz might reopen, when force majeures would be…