The escalating conflict between Iran, Israel, and the United States has moved squarely onto the world’s most critical energy chokepoints — and the consequences are rippling outward at alarming speed.
Qatar’s Energy Minister Saad Sherida Al Kaabi announced on Thursday that Iranian attacks on the country’s energy installations will slash its liquefied natural gas (LNG) export capacity by 17%, amounting to an estimated $20 billion in lost annual revenue. The damage to the world’s largest LNG facilities will take between three and five years to repair, Al Kaabi said, forcing Qatar to declare “force majeure” on some long-term LNG contracts — a legal term allowing it to suspend deliveries due to circumstances beyond its control. The impact will be felt acutely by major importers including China, South Korea, Italy, and Belgium.
Meanwhile, an Iranian strike hit an oil refinery in Haifa, Israel. Israeli Energy Minister Eli Cohen confirmed that power was briefly disrupted, though electricity was restored to most affected areas relatively quickly. The attack nonetheless underscored Iran’s willingness to target energy infrastructure across the region.