Hormuz Blockage Threatens Qatar's $83B LNG Expansion; Iran Strike Cuts 17% Output

QatarEnergy CEO Saad al-Kaabi warns that the Strait of Hormuz crisis is delaying critical equipment deliveries, jeopardizing the $83 billion North Field expansion beyond the first train, which remains on schedule for H1 2027. Iran's March 18 missile strike on Ras Laffan knocked out two of 14 LNG trains, removing 17% of capacity. The blockage and strike compound supply risks for global LNG markets, with Qatar's ability to meet future export commitments now uncertain.