Tehran: Gas prices in European markets jumped 30 percent within hours following Qatar’s announcement of the suspension of liquefied natural gas (LNG) production. This move disrupted supply calculations and ignited fears of a new wave of turmoil in the global energy market. British natural gas prices also rose by 42.55 percent, according to the London Stock Exchange Group.

According to National Iraqi News Agency, the Qatar Energy Organization announced today the cessation of LNG production. The organization stated that “LNG production was halted due to a military attack on operational facilities in Ras Laffan and Mesaieed.”

Earlier, the Qatari Ministry of Defense announced that facilities in Mesaieed and Ras Laffan were attacked by Iranian drones. This development has raised concerns about geopolitical tensions impacting energy supplies, affecting not only Europe but potentially global markets.