FLASH NEWS
"Many products will be missing", Qatar's alarm: We will stop gas production, the economy is collapsing
2026-03-06 20:32:53 / BOTA
Qatar's energy minister has warned that war in the Middle East could "collapse the economies of the world", predicting that all Gulf energy exporters will halt production within days and drive oil to $150 a barrel.
Saad al-Kaabi told the FT that even if the war ended immediately, Qatar would need “weeks to months” to return to a normal cycle of shipments after an Iranian drone attack on its largest liquefied natural gas plant, A2 writes.
Qatar, the world's second-largest LNG producer, was forced to declare force majeure this week after a strike at its Ras Laffan plant.
While Qatar exports only a small portion of its gas to Europe, the energy minister said the continent would feel significant hardship as Asian buyers outbid Europeans for whatever gas is available on the market, and as other Gulf countries find themselves unable to meet their contractual obligations.
“We expect that all those who have not claimed force majeure will do so in the coming days, if this continues. All exporters in the Gulf region will have to claim force majeure,” Kaabi said. “If they don’t, at some point they will have to pay the legal fee for this, and that is their choice.”
Kaabi's comments reflect growing concern in the Persian Gulf about the economic fallout from the US and Israel's war with Iran, which has caused chaos across the oil-rich region.
Brent crude rose 5.5% to $90.13 a barrel on Friday after the report was published, its highest level since the conflict began. European gas prices rose 5% but were still below this week's peak.
“This will bring down the economies of the world,” Kaabi said. “If this war continues for a few weeks, GDP growth around the world will be affected. The price of energy for everyone will increase. There will be shortages of some products and there will be a chain reaction of factories not being able to supply.”
He said that while there had been no damage to Qatar's offshore operations, the consequences on land were still being assessed.
"We still don't know the extent of the damage, as it is currently being assessed. It is not yet clear how long it will take to repair," he said. (A2 Television)
Happening now...
Germany, the "curse" of Rama and Berisha
Nga Bato Kosova
ideas
When crisis becomes a system: Dilemmas of the Republic of Kosovo
Nga Sokol Neçaj
The opposition must and will be bigger than an individual.
Nga Taulanda Jupi
top
Alfa recipes
TRENDING 
services
- POLICE129
- STREET POLICE126
- AMBULANCE112
- FIREFIGHTER128