Reuters cited QatarEnergy CEO Saad al-Kaabi as stating that Iran's latest attack on Qatar has damaged approximately 17% of its LNG export capacity, with facilities at Ras Laffan suffering severe destruction requiring an estimated 3 to 5 years for repairs. The plant had previously been shut down due to drone attacks, and this latest strike further escalates regional conflict in the Middle East. Impacted by supply disruption expectations, European natural gas futures surged approximately 35% at one point, with prices doubling compared to pre-conflict levels, demonstrating the sustained impact of the conflict on energy supplies and inflation. Meanwhile, the substantial LNG supply gap will force Asian buyers to seek alternative sources.