A liquefied natural gas (LNG) tanker on a digital screen at the Qatar Economic Forum (QEF) in Doha, Qatar, on Tuesday, May 20, 2025.
Christopher Pike | Bloomberg | Getty Images
QatarEnergy said Monday that it had halted liquefied natural gas production due to attacks by Iran on its operating facilities.
QatarEnergy is the world's largest provider of LNG. About 20% of global LNG exports come from the Gulf, primarily Qatar, and are shipped through the Strait of Hormuz, according to data from energy consulting firm Kpler.
Qatar's Defense Ministry said earlier that two drones launched from Iran had struck an energy facility in Ras Laffan Industrial City and a water tank belonging to a power plant in Mesaieed. There were no casualties, the Defense Ministry said.
Shares of U.S. LNG exporters Cheniere and Venture Global jumped nearly 7% and more than 16%, respectively, in premarket trading.
Iran has launched missiles at U.S. allies across the Gulf in retaliation for massive strikes by the U.S. and Israel that killed the Islamic Republic's Supreme Leader Ayatollah Ali Khamenei.
LNG is a type of natural gas that is super cooled into a liquid state and loaded on tankers for transport around the world. Natural gas is used primarily for electricity production.
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