Exxon’s Qatar LNG Trains Hit by Missile Attack, $20B Annual Loss
Missile strikes on Qatar’s Ras Laffan LNG hub damaged Trains 4 and 6—contracts in which Exxon holds 34% and 30% stakes—cutting export capacity by 17% and triggering an estimated $20 billion annual revenue loss. Repairs could take three to five years under long-term force majeure, curbing LNG output and product supplies.
1. Attack on Ras Laffan LNG Hub
Missile strikes on 18 and 19 March damaged Trains 4 and 6 at Qatar’s Ras Laffan Industrial City, impacting 12.8 million tonnes per annum of LNG production and reducing national export capacity by approximately 17%.
2. Exxon’s Stakes in Trains 4 and 6
ExxonMobil holds a 34% equity interest in Train 4 and 30% in Train 6, exposing the company to a proportional share of revenue losses and operational disruption at the joint ventures.
3. Production and Revenue Impact
The facility outage is estimated to cost around $20 billion in annual revenue and will curb production of condensates, liquefied petroleum gas, naphtha, sulphur and helium, tightening markets in Europe, Asia and beyond.
4. Repair Timeline and Force Majeure
Repairs to the damaged LNG trains are expected to span three to five years, leading to long-term force majeure declarations on existing contracts and sustained supply constraints.