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Wednesday night, Iranian missiles struck Ras Laffan — the world's largest LNG facility. Then again Thursday morning.
QatarEnergy CEO said it in plain language: three to five years to repair. Force majeure declared on contracts with Italy, Belgium, South Korea, and China. $20 billion annual loss. 17% of global LNG — gone.
Europe spent three years building a backup energy plan after Russia cut off gas in 2022. That plan just burned to the ground in a single night.
Today we break down exactly what this means — for Europe, for Asia, for the billions of people whose energy systems just lost something that cannot be replaced for years.
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