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Qatar Energy Minister: Iranian Attack Causes 17% Loss in Qatar's LNG Exports
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An Iranian attack has resulted in a 17% loss in Qatar's liquefied natural gas (LNG) export capacity, leading to an annual revenue loss of approx. US$20 billion and threatening supplies to Europe and Asia, Qatar's Energy Minister and CEO of QatarEnergy, Saad al Kaabi, said. Exxon Mobil (XOM.US) is a partner in the damaged LNG facilities, while Shell is a partner in the damaged gas-to-liquids (GTL) facility, which is expected to take a year to repair. The scale of the destruction has set the region back 10-20 years, Kaabi noted. Apart from the impact on LNG production, other by-products such as Qatar's condensate exports will decrease by about 24%, while liquefied petroleum gas (LPG)/ helium/ naphtha and sulphur will drop by 13%/ 14%/ 6%, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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