QatarEnergy Halts LNG Production Following Iranian Attack, Global Supplies Under Threat

DOHA — QatarEnergy stated on Monday, 3 February 2026, that it has halted production of liquefied natural gas (LNG) following an attack by Iran on two of the company’s major operational facilities.

QatarEnergy is one of the world’s largest LNG suppliers. According to energy consulting firm Kpler, approximately 20 per cent of global LNG exports originate from the Gulf region, particularly Qatar, and are shipped through the Strait of Hormuz.

Qatar’s Ministry of Defence previously stated that two drones launched from Iran struck facilities in the country, though there were no casualties.

Shares of American LNG exporters Cheniere Energy and Venture Global surged nearly 7 per cent and more than 16 per cent respectively during early Monday trading.

Iran launched missiles at United States allies in the Gulf region during the weekend in retaliation for a major United States and Israeli assault that killed Iran’s Supreme Leader Ayatollah Ali Khamenei.

Saudi Aramco’s Ras Tanura refinery was also targeted by drones, according to industry sources speaking to CNBC. The refinery was shut down as a precautionary measure, the sources stated.

LNG is a form of natural gas cooled to minus 260 degrees Fahrenheit, converting it into liquid form before being loaded onto tanker ships for distribution to countries worldwide. Natural gas is primarily used for electricity generation.