In a statement posted on its website recently, QatarEnergy said it expects the damage to its Ras Laffan Industrial City caused by missile strikes to cost about $20 billion a year in lost revenue and to take up to five years to repair. The company – which highlighted that the strikes occurred on March 18 and March 19 – outlined that the damage will impact supply to markets in Europe and Asia. The attacks damaged two liquefied natural gas (LNG) producing trains – Trains 4 and 6 – totaling 12.8 million tons per annum (MTPA) of production, according to the statement, which pointed out that this represents approximately 17 percent of Qatar’s exports. QatarEnergy noted that Train 4 is a joint venture between QatarEnergy, which holds a 66 percent stake, and ExxonMobil, which holds a 34 percent interest, and that Train 6 is a joint venture between QatarEnergy, which holds a 70 percent stake, and ExxonMobil, which holds a 30 percent interest. The attacks also targeted the Pearl GTL (Gas-to-Liquids) facility, according to the statement, which stated that this is a production sharing agreement operated by Shell that converts natural gas into high-quality cleaner burning drop-in fuels and produces base oils used to make premium engine oils and lubricants, and paraffins and waxes. QatarEnergy outlined in its statement that there will be a loss of associated product production due to the outage as follows:
• Condensates: 18.6 million barrels, which the company said is around 24 percent of Qatar’s exports.
• LPG: 1.281 million tons, which QatarEnergy highlighted is around 13 percent of Qatar’s exports.
• Naphtha: 0.594 million tons, which is around six percent of Qatar’s exports, according to the company.
• Sulfur: 0.18 million tons, which is around six percent of Qatar’s exports, QatarEnergy pointed out.
• Helium: 309.54 MCFA, which the company said is around 14 percent of Qatar’s exports.
Saad Sherida Al-Kaabi – the Minister of State for Energy Affairs, and the President and CEO of QatarEnergy – revealed in the statement that no one was injured by the strikes, which he described as not “just an attack on the State of Qatar but attacks on global energy security and stability”. “This was an attack on all of us who stand for development and human progress that is sustained by a fair, reliable, and secure access to energy,” he added.“The damage sustained by the LNG facilities will take between three to five years to repair.