Iranian drone strikes shut down Qatar LNG production facilities, as energy prices surge

Drone attacks from Iran target Qatar's energy infrastructure and Saudi Arabia's Ras Tanura refinery, jolting global markets in largest surge since 2022 Ukraine crisis. War With Iran Iranian drone strikes shut down Qatar LNG production facilities, as energy prices surge European gas futures surge by largest margin since 2022 Ukraine crisis as markets react to supply disruption fears By Emma Bussey Fox News Published March 2, 2026 9:13pm EST Facebook Twitter Threads Flipboard Comments Print Email Add Fox News on Google close Video JUST IN: Qatar Defense Ministry says it shot down two Iranian jets Qatar Defense Ministry says it shot down two Iranian jets that entered its airspace. NEWYou can now listen to Fox News articles! Iranian drone strikes forced Qatar to halt liquefied natural gas (LNG) production Monday, jolting global energy markets and raising fears about supply disruptions as Tehran increased its attacks on regional infrastructure. QatarEnergy, the state-owned giant and one of the world’s largest LNG producers, suspended operations at two facilities after drones launched from Iran hit the sites, according to reports.Qatar’s Ministry of Defense also said in a statement, that two drones hit facilities in the country, though no casualties were reported. The attacks also targeted a water tank at a power plant in Mesaieed and a key energy installation in Ras Laffan. Qatar suspends liquefied natural gas operations after Iranian drones hit facilities. Qatar’s Ras Laffan complex is the world’s largest LNG export facility, making it one of the most critical energy hubs in the world.About 20% of global LNG trade transited the Strait of Hormuz in 2024, primarily from Qatar, according to the U.S. Energy Information Administration. Markets reacted Monday with Europe’s benchmark natural gas futures surging by the largest margin since the 2022 energy crisis triggered by the Ukraine war, Bloomberg reported.GULF SHIPPING OPERATIONS GRIND TO HALT NEAR IRAN, US QUIETLY PREPARES FOR POSSIBLE STRIKE: 'HEIGHTENED RISK' People gather as smoke rises at the Industrial Area after reported Iranian missile attacks, following United States and Israel strikes on Iran, in Doha, Qatar, March 1, 2026. (REUTERS/Mohammed Salem) Bloomberg also reported Dutch TTF natural gas prices rose by 50% after news of the shutdown. Asian LNG prices also recorded gains as traders tried to assess the scale and length of the disruption. "The threat to security of supply is here and now," Simone Tagliapietra, an analyst at Bruegel, told Bloomberg. "The extent of it will depend on the duration of the shutdown, but we are now into a new scenario."CLICK HERE TO DOWNLOAD THE FOX NEWS APPIn Saudi Arabia, another drone attack caused a fire at the kingdom’s Ras Tanura oil refinery, forcing a partial shutdown there as well. Saudi authorities have not reported casualties, but the attack heightened fears of broader instability in the Gulf’s energy corridor, according to reports. Related Article America strikes Iran again — has Washington planned for what comes next? Emma Bussey is a breaking news writer for Fox News Digital. Before joining Fox, she worked at The Telegraph with the U.S. overnight team, across desks including foreign, politics, news, sport and culture. Related Topics War With IranUS EnergyWarsMiddle East Antisemitism Exposed Fox News' Antisemitism Exposed" newsletter brings you stories on the rising anti-Jewish prejudice across the U.S. and the world." Arrives Weekly By entering your email and clicking the Subscribe button, you agree to the Fox News Privacy Policy and Terms of Use, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time. Subscribe Subscribed Subscribe You've successfully subscribed to this newsletter!