NAIROBI, Kenya Mar 20 \u2013 Qatar\u2019s Energy Minister says Qatar\u2019s liquefied natural gas (LNG) export capacity will reduce by 17% over the next five years, causing the country to lose $20bn in annual revenue.<\/p>\n
LNG is created by cooling natural gas down to a very low temperature using a large industrial processing unit known as a train. The minister says the Iranian attacks on damaged two of the plant\u2019s 14 trains.<\/p>\n
Iran\u2019s attack on Ras Laffan was in response to an Israeli attack on Wednesday to its South Pars gas field, which is located just north in the Persian Gulf.<\/p>\n
\u201cFive years isn\u2019t a repair,\u201d Ciaran Roe, chief commercial officer at HySights, a clean fuels market intelligence provider based in Singapore, tells the BBC. \u201cIt\u2019s a full rebuild\u201d.<\/p>\n
Countries in Asia are the most reliant on Qatari LNG, especially Japan, South Korea, India and China. In Europe, Italy and Belgium are already big customers \u2013 but the continent as a whole is becoming increasingly reliant on Middle Eastern gas, having turned away from Russian imports in the wake of the Ukraine war.<\/p>\n
Qatar is one of the leading, if not the <\/em>leading player, in the global natural gas market.<\/p>\n \u201cFear may be embedded in the market for several months, if not years,\u201d says Roe. \u201cThis will change governments\u2019 thinking towards LNG imports\u201d.<\/p>\n LNG is a crucial energy source needed to heat people\u2019s homes, cook food and even power ships and factories. It\u2019s also needed to make fertiliser to grow food.<\/p>","protected":false},"excerpt":{"rendered":" NAIROBI, Kenya Mar 20 \u2013 Qatar\u2019s Energy Minister says Qatar\u2019s liquefied natural gas (LNG) export capacity will reduce by 17% over the next five years, causing the country to lose $20bn in annual revenue. LNG is created by cooling natural gas down to a very low temperature using a large industrial processing unit known as […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-134880","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/134880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=134880"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/134880\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=134880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=134880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=134880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}