{
  "id": 14170022,
  "title": "Middle East LNG industry remains hostage of Iran war",
  "url": "https://urgent.news/2026/10/13/middle-east-lng-industry-remains-hostage-of-iran-war",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-13T09:57:20.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/opinion/columnists/2026/10/1554581/middle-east-lng-industry-remains-hostage-iran-war"
  },
  "original_language": "en",
  "account": "The Middle East's liquefied natural gas (LNG) industry is suffering due to the ongoing conflict between the United States, Israel, and Iran. Qatar, the world's second-largest LNG producer, has been significantly impacted by the war, with its main LNG complex at Ras Laffan forced to shut down. Iranian missile attacks have also damaged around 17% of Qatar's export capacity, causing billions in lost revenue and repairs. According to the International Monetary Fund, Qatar's GDP will contract by 8.6% in 2026, down from a pre-war expectation of 6.1% growth.\n\nThe disruption in Qatar's LNG exports has caused shockwaves in global gas markets, with Asian and European prices reaching their highest levels since early 2023. While US LNG exports have risen by 14% in 2026, the gap in the global market remains substantial. Qatar's national energy company, QatarEnergy, expects to restart production within weeks if the Strait of Hormuz reopens, but a full recovery to pre-war norms is unlikely.\n\nThe situation is further complicated by the fact that Qatar's LNG facilities are highly integrated and capital-intensive, making it difficult to restart production quickly. The raw gas from the North Field, a massive gas reservoir shared with Iran, contains a significant amount of condensate that needs to be separated and shipped, a process that could quickly deplete storage capacity. Additionally, Qatar has limited onshore storage capacity for LNG, and the global LNG tanker fleet is smaller than the oil tanker fleet, leading to higher freight rates and less willingness to send LNG carriers through Hormuz.",
  "summary": "WHILE Middle Eastern oil exports have rebounded in recent weeks, Qatar’s vast liquefied natural gas export facilities remain hobbled.",
  "key_points": [
    "Middle East LNG industry suffers due to Iran war with US and Israel",
    "Qatar's main LNG complex shut down, causing billions in losses",
    "Global gas prices surge as Qatar's export capacity reduced 17%"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}