Qatar LNG Repairs To Take Up To Five Years, Cost $20 Billion In Lost Revenue, Cripple Chinese Supply

Bad news for Europe and Asia, and especially China which is one of the Gulf's biggest LNG clients: according to QatarEnergy’s CEO, Iran’s latest attack on Qatar damaged facilities that produce about 17% of its liquefied natural gas export capacity. Worse, repairs will take three to five years and sideline 12.8 million tons per year of LNG, CEO Saad al-Kaabi told Reuters. Two of the plant’s 14 production trains were damaged, with repairs expected to take years, people with knowledge confirmed to Bloomberg.