The conflict in the Middle East reached a new level of tension after QatarEnergy reported that its Ras Laffan LNG (Liquefied Natural Gas) terminal, the largest facility of its kind in the world, suffered “extensive damage” after being hit by Iranian missiles twice within 12 hours.
The war in Iran had already driven oil prices to their highest levels in years, but now a new wave of attacks in the past 24 hours on energy production facilities across the Middle East is shining a spotlight on another crucial fossil fuel: liquefied natural gas.
The global energy market could be significant.
Qatar is one of the world’s largest exporters of LNG, and any prolonged interruption in supply from the Ras Laffan terminal could directly affect global supplies and further increase fuel prices. Experts warn that damage to infrastructure could require weeks or months to complete repairs, depending on the extent of the damage.
Escalation of tensions and economic consequences
The escalation of the conflict in the Middle East has caused a chain reaction in international markets. The price of gasoline in the United States, for example, has risen by almost 30% since the start of the war, according to information released during CNN Brasil’s Fora da Ordem program.
This rise in fuel prices has the potential to affect global inflation and slow down the economic recovery in several countries.
Attacks on energy facilities represent a new phase of the conflict, with a strategic focus on energy production. Previously, they had already occurred, but now LNG infrastructure has also become a target, increasing the risks to global energy supplies.
Experts in geopolitics and energy point out that the continuation of these attacks could lead to an energy crisis of global proportions, affecting everything from transport and industry to residential heating in countries dependent on LNG imports, especially with the approach of winter in the northern hemisphere.
