Posted on 03/21/2026 2:57:12 AM PDT by Libloather
Damage to a critical Qatari facility is threatening to keep energy prices high around the world even if the war in Iran ends soon in what some analysts are calling an “Armageddon” situation.
Qatar’s Las Raffan plant supplies a fifth of the world’s liquefied natural gas, which is used for electricity, heating and cooking – but Iranian strikes have damaged the facility, worsening what is already the largest-ever energy supply disruption.
“I woke up this morning and thought, ‘No, please no,’” Anne-Sophie Corbeau, former head of gas analysis at BP now at Columbia University’s Center on Global Energy Policy, told the Financial Times.
“This has always been my nightmare scenario, my Armageddon scenario, the one I didn’t want to happen.”
Gas prices in Europe spiked 30% as markets reopened, having more than doubled since the start of the war, while some gas stations in Asia have already imposed fuel rations to combat shortages.
“It is apocalypse now. The coming months for gas importers are going to be a bloodbath,” Laurent Segalen, a clean energy investment banker, told the FT.
Europe and Asia will bear the brunt of the new supply disruption, but it will eventually ripple across the globe – likely hitting the US in about two months, according to Joe Adamski, managing director of ProcureAbility, a supply chain consultancy.
(Excerpt) Read more at nypost.com ...
It’s articles like this why I believe all ppl should be invested in the markets. PPL like this author, Taylor Herzlich, will then pay a cost for their stupidity, hysteria and demagoguery.
Stupid Europeans decided to stop using coal and rely on imported gas.
Now they are hurting!
Go back to coal idiots, you have soo much of it!
The Chinese will probably be able to fix the system within a few weeks.
Russia has plenty of gas for China.
Day 2 : Laying of the keel plates
Day 6 : Bulkheads and girders below the second deck are in place.
Day 10 : Lower deck being completed and the upper deck amidship erected
Day 14 : Upper deck erected and mast houses and the after-deck house in place
Day 24 : Ship ready for launching
China fixing anything is a recipe for failure.
Temu quality.
The author Taylor Herzlich is kinda cute so cut her some slack -— https://tinyurl.com/ym2h4fj8
This is spring.
The temperatures will be moderate in the USA, Europe, Korea, Japan and most of China.
There will be little demand for natural gas for heating or cooling for several months.
“Iranians don’t come from the line of Ishmael. They are descendants of Shem’s son Elam, not Abraham / Ishmael.”
Because they are Persians, not Arabs?
My nat gas monthly royalty checks are over $3.5K now, Jeez.
“Is there a way to invest and expand the output of the other 75%.”
Yes, but that typically takes 3-5 years.
“Is there a way to invest and expand the output of the other 75%. One man’s disaster may prove to be another man’s opportunity?“
Virtually all of these older LNG plants only got built once long term supply contracts got inked. Guessing here, but 90% of capacity was committed. The rest of capacity would go into the lucrative spot market. Once they were operating, every knob was tweaked to maximize production. Smaller add on projects usually get looked at to produce a few % more, as long as they don’t require prolonged shutdown.
Some of the newer US LNG plants may be getting built based without long term contracts. These are simpler projects because they draw off of existing gas pipeline system. In either case, it would be economic injustice not to be producing flat out already.
Thank you.
Did you know that there are over a dozen different ‘recipes’ used to make Oscar Mayer Baloney depending upon what the price is of each individual spice used on any given day?
Yep. It’s true!
I’d like to think that those in charge of our gas supplies are a tad more intelligent than simple Baloney makers!
But, by all means - feel free to panic, LOL!
So about 8 hours of daily global consumption.
https://aegis-hedging.com/insights/basis-brief-waha-gas
https://www.eenews.net/articles/us-natural-gas-exporters-brace-for-global-glut/
The first article on pipeline constraints from getting gas from West Texas to where it’s needed. The second is from just last month and potential LNG oversupply from new US plants coming on stream.
For some reason, I suspect that Anne-Sophie is actually delighted with this development. Hmmm.
Dems are working hard to take advantage of this situation.
The USS Tripoli will arrive tomorrow, if it is not there already, and offer the first use of the “Iron Dome” system for missile defense. This is a strategic shift for patrolling the Strait and Persian Gulf. Also, the Tripoli is transporting the 31st Marine Expeditionary Unit (MEU), and about 3000 Marines are either there or about to be there. I believe the mission has changed and they will attack the Greater Tunb Island, where Iran is diecting all of the their Persian Gulf attacks with Fast Boats, Drones, and Missiles. It has not been attacked so far because the UAE Claims ownership and asked the US to not bomb it. However, things have changed since Iran launched more than 2000 missiles and drones against the UAE, and the UAE has closed the Iranian Embassy and broken off diplomatic relations. I suspect that when you see the Americans bombing massively on the two Islands Great and Less Tunbs, then the Marines will secure those two Islands. Checkmate!
“There are currently 34 million barrels of crude oil stored on Kharg Island”
This plant is an LNG and liquid petroleum gas (propane,butane, natural gas liquids) it’s a completely different product set than crude oil. Asia uses enormous amounts of LPG gas for cooking, heating , off grid refrigeration and motor fuel it’s called autogas there. They banned gasoline in the cities due to smog so all the trikes tuk tuks , and motorbikes burn LPG it’s clean and particulates free. Makes oil last twice as long too vs gas or diesel. Go to any house in Vietnam bet you will find at least one butane portable burner stoves if not multiple same.For Korea or Thailand. Those little cans are all butane the bigger bottles are 20# or 10# sized. Asia gonna feel the pain with 25 percent of the WORLD’S LPG supply off line. They are right once the USA starts to export more to fill the demand propane will be $5-6 per gallon here up from 3.99 @ TSC today. Uhaul had it at $4.15 last I looked this week. It’s crawfish boil season we are burning two 20# tanks a weekend at least.
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