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Qatar LNG Facility Attack Sparks 50% Gas Price Surge

3/7/2026

Center

Qatar Facility Halted

The Ras Laffan LNG facility in Qatar has halted operations after an Iranian drone attack.
European gas prices have spiked 50% in response to the disruption.
Qatar's energy minister warns prolonged instability could raise global inflation and slow growth.
Japan and South Korea may face energy shortages, drawing on reserves or seeking costly emergency supplies.
The disruption threatens Gulf economies and their trading partners.

Right

South Asia Shipments Disrupted

Shipments of garments from South Asia are stranded due to flight cancellations tied to the Middle East conflict.
Emirates and Qatar Airways have suspended operations, affecting air cargo from Bangladesh and India.
Manufacturers report significant delays, with freight costs doubling as air capacity shrinks.
Primark and H&M rely mainly on sea shipments, while air transport disruptions could raise sea freight costs if the Strait of Hormuz remains closed.

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Qatar Facility Halted

The Ras Laffan LNG facility in Qatar has halted operations after an Iranian drone attack.
European gas prices have spiked 50% in response to the disruption.
Qatar's energy minister warns prolonged instability could raise global inflation and slow growth.
Japan and South Korea may face energy shortages, drawing on reserves or seeking costly emergency supplies.
The disruption threatens Gulf economies and their trading partners.

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