Qatar said Wednesday that Iranian missiles caused “extensive damage” at Ras Laffan Industrial City, home to the largest liquefied natural gas, or LNG, export facility in the world.
Qatar’s Foreign Ministry denounced the attack as a “dangerous escalation, flagrant violation of state sovereignty, and a direct threat to its national security and regional stability.”
Qatar reserves the right to respond in accordance with the right to self-defense guaranteed under international law, the Foreign Ministry said in a statement.
Brent crude prices, the international benchmark, surged more than 7% to $111.23 by 4:52 p.m. ET.
U.S. West Texas Intermediate crude was up about 4% at $100.04.
QatarEnergy’s liquefied natural gas production facilities, amid the U.S.-Israeli conflict with Iran, in Ras Laffan Industrial City, Qatar, March 2, 2026.
Stringer | Reuters
Iran’s Revolutionary Guard had threatened to attack energy facilities in Qatar, Saudi Arabia and the United Arab Emirates after Israel bombed a natural gas processing facility in Iran.
Emergency teams were deployed to contain fires at Ras Laffan, according to a social media post from state-owned QatarEnergy. No casualties have been reported. Qatar’s Interior Ministry later said the fire at the facility had initially been brought under control.
Qatar halted LNG production on March 2 due to Iranian drone strikes at Ras Laffan and Mesaieed Industrial City. The Gulf state is the second-largest LNG exporter in the world, after the U.S. Qatar accounts for nearly 20% of global LNG exports, according to data from energy consulting firm Kpler.
The escalating attacks on Middle East oil and gas infrastructure threaten to intensify the massive energy supply disruption triggered by the Iran war.
Oil tanker traffic through the Strait of Hormuz has plunged due to Iranian attacks on commercial ships. The Strait is the most important trade choke point for oil, with about 20% of world supplies passing through it before the war.
Brent prices could average $130 in the second and third quarter if there are broad attacks on energy infrastructure and the Strait remains closed for a prolonged period, Citigroup analysts told clients in a report on Wednesday.