Qatar pauses LNG revival after tanker attack

QatarEnergy, led by CEO Saad Sherida al-Kaabi, has paused efforts to rapidly revive production at the Qatar — Ras Laffan Industrial City LNG complex, the world's largest liquefied natural gas facility, after an attack on its tanker Qatar — Al Rekayyat in the Strait of Hormuz raised safety concerns. The decision follows heightened tensions in the region, including US strikes on Iran and Iranian attacks on vessels. Operations at Qatar — Ras Laffan Industrial City will be kept at minimum levels, and vessel docking will be reduced. The pause threatens to tighten the global gas market further, as Asian LNG spot prices are over 80% higher than pre-war levels. Qatar had been preparing to ramp up output after a US-Iran interim peace deal in June, but the tanker attack has disrupted those plans. The facility had been largely shut since March after an Iranian drone attack, with 17% of capacity damaged in a separate missile strike. QatarEnergy extended force majeure on LNG supplies to some Asian customers until August, and Italian utility Edison (company) extended its force majeure clause until early September. The Strait of Hormuz saw maritime traffic nearly halt on Thursday.