Qatar Energy Company today announced the suspension of production of some finished products in the country, including polymers, methanol and aluminum.
Yesterday, the company suspended production of liquefied natural gas and related products due to military attacks targeting its facilities in Ras Laffan and Mesaieed.
“Qatar Energy values its relationships with all stakeholders and will continue to communicate based on the information available,” the German news agency said.
Earlier, Qatar’s Ministry of Defense reported that two Iranian drones attacked a water tank at the Mesaieed power plant and a Qatar Energy Company facility in Ras Laffan.
rising expectations
It is worth noting that Goldman Sachs analysts earlier said that natural gas prices in Europe could more than double if shipping through the Strait of Hormuz is halted for a month.
Analysts at the bank said gasoline prices in Europe and Asia did not adequately factor in risks related to Iran.
The bank explained that suspending shipments for a month could cause gas prices in Europe to rise and spot liquefied natural gas prices in Asia to rise by up to 130%, reaching around $25 per million British thermal units.
Qatar Energy today announced the suspension of production of some finished products in the country, including polymers, methanol and aluminum.
The company had suspended production of liquefied natural gas and related products yesterday due to military attacks targeting its facilities in Ras Laffan and Mesaieed.
The German news agency reported that the company said: “Qatar Energy values its relationships with all stakeholders and will continue to communicate the information available.”
Earlier, Qatar’s Ministry of Defense reported that two Iranian drones attacked a water tank at the Mesaieed power plant and a Qatar Energy facility in Ras Laffan.
Expected increase
It is worth noting that Goldman Sachs analysts have previously stated that natural gas prices in Europe could more than double if shipping through the Strait of Hormuz is halted for a month.
Analysts at the bank said gas prices in Europe and Asia do not adequately factor in risks related to Iran.
The bank said a month-long transport suspension would lead to higher gas prices in Europe, and spot liquefied natural gas prices in Asia could rise by up to 130%, reaching around $25 per million British thermal units.
