Apr. 27 at 8:43 PM
$VG Expansion Project Delay: Work on the North Field East (NFE) and North Field South (NFS) projects has largely stopped as thousands of workers were evacuated from the Ras Laffan Industrial City. Critical start-up dates, originally slated for 2026, have now slipped into 2027 or beyond
Infrastructure Repairs: Damage to the existing "cold boxes" (critical cooling units for gas purification) on two of Qatar's 14 LNG trains is extensive. Repairing these units, which cost approximately
$26 billion to build, could take between three to five years.
Supply Shortfall: The International Energy Agency (IEA) estimates that these delays, combined with current outages, will result in a cumulative shortfall of 120 billion cubic meters (bcm) of LNG between 2026 and 2030.
Force Majeure: Due to the physical damage and the effective closure of the Strait of Hormuz, Qatar has declared force majeure on long-term contracts for up to five years, impacting major buyers in China, South Korea, Italy, and Belgium
