A prolonged closure of the massive plant in the Persian Gulf would have a major impact on global supply of the fossil fuel used in electricity generation, heating buildings and powering industry. It follows U.S. and Israeli attacks on Iran which began over the weekend.
EU member countries were already jittery about the prospect of airstrikes on energy facilities in the Strait of Hormuz, a key chokepoint for seaborne shipments of oil and liquefied natural gas from Gulf states. All Qatari LNG passes through the Strait of Hormuz.
EU countries already kicked off 2026 with lower gas reserves than in recent years, with 46 billion cubic metres at the end of February 2026, down from 60 billion cubic meters in 2025, according to Bruegel.