Iran strikes: QatarEnergy to stop production of LNG

QatarEnergy said on Monday it has ceased production of liquefied natural gas (LNG) and associated products due to military attacks on the company’s operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City in the state of Qatar.

“QatarEnergy values its relationships with all of its stakeholders and will continue to communicate the latest available information,” it said in a statement.

The state-owned company is a global leader in the production of LNG,  and its operations in Ras Laffan Industrial City constitute a global hub for natural gas, primarily focused on the production, processing, and export of LNG and related hydrocarbons.

Almost all of the LNG is then exported through the Strait of Hormuz, which transports approximately 25% of the world's oil and gas from major suppliers.

This is a developing story and will be updated