1636 GMT - Damage to Qatar's Ras Laffan LNG complex has removed 12.8 million metric tons a year of supply for three to five years, likely forcing exposed buyers into spot markets and tightening global balances, says JP Lacouture from Kpler. India's Petronet is the most exposed, with 7.5 mtpa of long-term contracts linked to the affected facilities and limited diversification beyond Qatar. Taiwan's CPC also faces significant risk, with about 27% of its LNG portfolio exposed. In Europe, France's EDF and Italy's Edison are the most impacted, with roughly 80% of long-term LNG supply sourced from Qatar, according to Kpler. Lacouture says buyers with high Qatari exposure will likely boost spot market activity, tightening prompt supply and supporting prices, while some--particularly state-owned firms--might turn to demand management or fuel switching to offset shortages. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

March 25, 2026 12:36 ET (16:36 GMT)

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