An explosion and subsequent fire at a key natural gas export terminal in Qatar’s Ras Laffan Industrial City has halted restart operations, triggering a sharp repricing in global liquefied natural gas markets.
The incident, which occurred Sunday night as workers attempted to resume activities after the facility was bombed by Iran during the ongoing conflict, has left at least 54 people injured and 18 missing, according to reports from the South China Morning Post and other wire services.
Global LNG futures jumped sharply in early trading as traders assessed the potential for a sustained supply disruption from one of the world’s largest gas exporters.
The blast underscores the persistent vulnerability of critical energy infrastructure in the region, with markets now factoring in a higher risk premium for Middle Eastern gas flows.
Brent crude also saw upward pressure as investors weighed the broader implications for regional stability and energy security.
QatarEnergy, the state-owned operator, confirmed the incident but provided limited details on the extent of the damage or the timeline for a full operational recovery.