Ras Laffan

A source close to Qatar’s North Field Expansion said that the project could be delayed much longer than the one year indicated by the country’s energy minister last week.

The Iran war and the chaos it has inflicted on global energy stability, supply and pricing are a stark reminder of Europe’s risky gas reliance, analysts have warned.

The sudden LNG supply crisis following the Ras Laffan attack is driving up prices and will force painful demand reduction across the globe. Analysts say the reputation of LNG as a reliable fuel is also irreparably damaged.

The Ras Laffan attack came after Iran’s biggest gas field, South Pars, was attacked by Israel, sending oil prices surging during trading hours on Wednesday.