Iranian retaliatory strikes on Qatar’s liquefied natural gas infrastructure sent prices soaring, as they threaten to further tighten supply in Europe and Asia. Major energy facilities were struck on Wednesday across the Middle East,

European and Asian natural gas prices surged after Iran launched a missile attack that caused "extensive damage" at Qatar's Ras Laffan complex, the world's largest LNG export facility.

Global oil and natural gas prices soared after Iran attacked a key natural gas facility in Qatar that can supply one-fifth of the world’s gas

The sudden stoppage of LNG exports from Qatar - the world's second-largest exporter in 2025 - has sent natural gas prices soaring by 50% from year-ago levels across Europe and Asia and has prompted panicked buyers to seek out replacement cargoes.

The attacks have cast uncertainty over Qatar’s North Field East expansion, potentially delaying additional capacity and exacerbating global LNG shortages, with Asian and

European natural gas prices jumped as much as 35% after the LNG facility strike. Iran’s missile attack damaged the Ras Laffan complex, a major global export hub. Supply fears are rising due to risks to LNG flows and shipping through Hormuz.

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,

U.S. natural gas prices remain relatively stable around $3.10–$3.40/MMBtu because export terminals are already operating near full capacity and domestic production continues to rise.

The wars in Ukraine and Iran have changed the global natural gas market. The U.S. was the top natural gas exporter in 2025, and exports are likely to continue increasing in the coming years.