On June 24, Bloomberg reported, citing an interview with Sheikh Mohammed bin Abdulrahman Al Thani, Qatar's Prime Minister, who stated, "Except for the damaged facilities, production will return to normal levels within weeks."
QatarEnergy, the state-owned energy company, operates the world's largest LNG export facility in Ras Laffan. However, production was largely halted after Iranian attacks in March effectively blocked navigation through the Hormuz Strait, damaging two production lines that account for about 20% of total capacity.
As U.S.-Iran peace negotiations progress and the possibility of reopening the Hormuz Strait increases, Qatar has begun preparations to resume production.
Sheikh Mohammed said, "Our team has already been deployed for several weeks, and we are ready for QatarEnergy to normalize operations as soon as the situation in the Strait stabilizes."
An increase in Qatari LNG supply is expected to ease some global LNG supply pressures. Although the U.S. and Iran have reached a tentative peace agreement, LNG prices in Europe and Asia remain significantly higher than pre-war levels.
Due to safety concerns, Qatar has been exporting limited quantities outside the Persian Gulf by concealing the locations of some LNG carriers. However, these shipments have fallen far short of normal levels.
* This article has been translated by AI.
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