Iran War’s Biggest Economic Casualty? Qatar Loses $24 Billion In Gas Revenue

Six months of war between the US and Iran has decimated Qatar's natural gas economy. The Gulf state saw its liquefied natural gas (LNG) exports crash by 96%. Shipping interruptions in the Strait of Hormuz and the destruction of gas facilities have severely restricted its primary export income. Qatar shed nearly $24bn in gas revenues, Reuters data reported. This severe revenue shortfall equals roughly five months of national income. Qatar suffered the most severe impact, even though energy supply issues also paralysed neighbouring markets including Saudi Arabia, the UAE, Iraq and Kuwait. The shipping data highlights a massive disruption. Doha...