Iran strikes threaten to raise LNG prices for Asia, Europe
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By Rachel Frazin
Published on March 20, 2026.
Iranian strikes on oil and gas infrastructure have raised global natural gas prices, exacerbating already tight energy supplies. The strikes, which have exacerbated the tight supply of energy, are affecting prices in Europe and Asia. Ira Joseph, global fellow at Columbia University’s Center on Global Energy Policy, stated that the attacks on Iran's South Pars gas field are a significant impact on Europe and China. The attack knocked out 17 percent of Qatar's export capacity and could cause repairs to its infrastructure, which could take three to five years. The impact on global LNG supplies is expected to be significant, with gas that would have otherwise flowed to Italy, Belgium, South Korea and China expected to significantly impact.
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