For Qatar, the war has undermined the country’s hard-fought reputation as a stable and dependable LNG producer in a region where instability has frequently sent energy markets into a frenzy. “We are a reliable supplier for our buyers,” al-Kaabi told S&P Global in 2020. In its bid to rise as the world’s premier energy producer, Qatar even pulled out of OPEC, the cooperative of major petroleum producers, in 2018. It was the first time a Middle Eastern country had ever done so, and at the time, al-Kaabi said the decision had been taken to “strengthen Qatar’s position as a reliable and trustworthy energy supplier across the globe.”
Oil and gas prices jump as conflict escalates
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