Qatar Energy, the world's largest LNG producer, is halted after an attack, causing Eurasian gas prices to soar

WealthCoffee · 2026-03-03T13:37:21+00:00

Qatar Energy halts LNG production due to military attacks, causing a sharp rise in Eurasian natural gas prices. On March 2nd, European LNG prices surged by as much as 39.26%, and Asian spot LNG prices also increased by 24.62%.

WealthCoffee

2026-03-03 13:37:21

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Caixin: As the conflict between the U.S., Israel, and Iran rapidly escalates, the world’s largest liquefied natural gas (LNG) producer, Qatar Energy, has halted production due to a military attack, causing a sharp surge in Eurasian natural gas prices.

On March 2, Qatar Energy announced that its facilities in Ras Laffan Industrial City and Mesaieed Industrial City in Qatar were targeted in a military attack. The company has ceased production of LNG and related products.

This news directly triggered a surge in Eurasian gas prices. On March 2, the benchmark European LNG price, the TTF April futures contract, soared intraday by 53.76%, closing up 39.26% at €44.5 per megawatt-hour; the Asian LNG spot benchmark price, JKM, increased by 24.62% intraday to $13.365 per million British thermal units.

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