Iran's attack or reduction on Qatar's 17% natural gas export capacity could take as long as 3 to 5 years to repair.

Iran's attack on Qatar has severely damaged the country's key liquefied natural gas (LNG) production facilities, resulting in an estimated 17% loss of export capacity. The repair period is expected to be as long as 3 to 5 years, creating a long-term impact on global natural gas supply. According to reports, the CEO of Qatar Energy Company, Kabe, stated that the recent attack caused serious damage to the core production base located in Ras Laffan. This facility is one of the world's largest LNG production centers, and its damage signifies a substantial weakening of a crucial energy supply source globally. Kabe pointed out that the related repair work will continue for several years, indicating that the supply gap will be difficult to fill in the short term. The market quickly reacted to this news. European natural gas futures prices surged by 35% at one point, more than doubling the pre-war levels, highlighting the market's concerns about long-term supply disruptions. As the Middle East conflict enters its third week, energy prices continue to rise, exacerbating global inflationary pressures and adding new uncertainties to currency policies of various countries. It is worth noting that the LNG facility had previously experienced partial shutdowns due to drone attacks, and the damage caused by the missile attack this time is more severe, meaning that the shutdown period will be significantly extended. Analysts point out that the 17% loss of production capacity compounded with a repair period of several years will force global buyers, especially Asian countries highly dependent on Middle Eastern natural gas, to intensify efforts to find alternative supplies to make up for the shortfall of millions of tons. This incident is the latest in a series of attacks on oil and gas infrastructure in the Middle East in recent times, and it signals a further escalation of the conflict. With the energy supply chain under continued pressure, global markets are reassessing the long-term impact of Middle Eastern geopolitical risks on energy prices and inflation paths.