Natural gas prices soar
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Iran's Revolutionary Guard had threatened to attack energy facilities in Qatar, Saudi Arabia and the United Arab Emirates.
The Iran war has driven oil prices to their highest levels in years. Now, a wave of attacks in the past 24 hours on energy production sites across the Middle East have turned the spotlight on another crucial fossil fuel: liquefied natural gas,
A prolonged outage in Qatar is set to reinforce the U.S.’s status as the leading exporter of liquefied natural gas.
Iran stood firm on its warnings after the Revolutionary Guards threatened counterstrikes on several energy facilities across the countries "in the coming hours" after the giant South Pars field, the largest gas reserves in the world,
Across Asia, a sharp drop in liquefied natural gas supplies is pushing major importers back toward coal, undermining L.N.G.’s long-held role as a stable energy anchor.
Iranian strikes on liquefied natural gas facilities at Qatar’s Ras Laffan Industrial City reduced the country’s export capacity by 17% and will take three to five years to repair, the country’s energy minister said.
Qatar's LNG production halt after Iranian strikes threatens global energy supplies, with the country producing a fifth of world liquefied natural gas exports.
CNBC's Pippa Stevens reports the latest news surrounding energy market disruptions from the Iran war.
The announcement comes days after a renewable energy expert challenged findings of a state study finding LNG to be cost-effective.