Qatar Shuts World's Largest LNG Facility, Tightening Global Gas Supply
Qatar has decided to close the Ras Laffan liquefied natural gas plant with annual capacity of 77 million tons, triggering global gas market tightness. European benchmark natural gas prices surged over 50% within days. The move poses fuel supply risks to Asia's power sector while creating different impacts on the chemical industry. Major international banks released reports analyzing the far-reaching effects on global energy markets.