Iran's attack forced Qatar to cut back on gas production – Bloomberg
Qatar has suspended efforts to resume production at the world’s largest natural gas liquefaction complex, Ras Laffan, following an attack on a tanker in the Strait of Hormuz. For safety reasons, the facility will operate at minimum capacity, and the number of ships scheduled for loading in the coming days will be reduced.
The decision to halt plans to increase production was made by QatarEnergy CEO Saad Al-Kaabi following emergency meetings of the company’s leadership. This pause is a result of renewed tensions in the region following attacks on ships and U.S. military strikes against Iran over two consecutive days.
The delay in resuming production capacity threatens to exacerbate the shortage in the global LNG market and intensify competition between Asia and Europe ahead of the winter season. Meanwhile, spot prices for liquefied natural gas in Asia are already 80% higher than pre-war levels, and European benchmark prices have surpassed the 50-euro-per-megawatt-hour mark for the first time since the conclusion of a temporary peace agreement between the U.S. and Iran.
This was reported by Bloomberg.
As of the evening of July 9, hostilities between the U.S. and Iran continue. On the morning of July 9, the U.S. military struck a strategic railway bridge in the north of the country, which is part of an important international transport route.
On July 9, the situation surrounding the conflict between the U.S. and Iran remains extremely tense. According to military analyst Alex Alfirraz Shirs, the parties have reached their most dangerous point in recent times, and any new attack could derail even the slightest chance of de-escalation.
On July 9, a drone attacked a camp of the Iranian Kurdish opposition in northeastern Iraq near the city of Erbil. According to preliminary reports, there were no casualties or injuries.
On July 9, Iran continued to launch strikes against Gulf countries in response to recent U.S. attacks. There are reports of missiles and drones launched toward Jordan, Kuwait, Bahrain, and Qatar, though most of the aerial targets were intercepted.
On July 9, oil tanker traffic through the Strait of Hormuz came to a near standstill. This was caused by new U.S. strikes on Iran, Tehran’s retaliation, and a sharp increase in risks to shipping in the region.
On Thursday, July 9, Iran stated that it had fired ten ballistic missiles at a U.S. military base in Jordan. At the same time, Jordanian authorities reported that all missiles were intercepted and that there were no reports of damage or casualties.
Despite this new round of conflict in the Middle East, Iran maintains that it has not abandoned diplomacy and is attempting to restore relations with the Gulf states. Officials in Tehran claim that the U.S. and the West have mistakenly interpreted their willingness to negotiate as a sign of weakness.
