Qatar and Iran gas fields face major disruption following attacks

Attacks on the North Field in Qatar and the South Pars field in Iran have disrupted a massive shared gas structure that holds 25% of the world's gas reserves and contributes 10% of global production. The damage affects the entire value chain, from upstream production to liquefaction and LNG export facilities.

In Qatar, attacks on the Pearl GTL complex and an explosion at the Barzan gas plant have removed approximately 4.5 billion cubic feet per day (bcfd) of processing capacity. This includes two LNG liquefaction trains with a combined capacity of 12.7 million tonnes per annum (mmtpa), representing about 17% of Qatar's total LNG export capacity. Additionally, the Barzan plant closure has eliminated 35% of Qatar's domestic gas supply.

Wood Mackenzie estimates the total repair costs at $5.8 billion, with recovery timelines ranging from four to twelve months. The disruptions pose significant risks to global energy security and are prompting buyers to review long-term contracts.