Global gas prices surged on Monday after Qatar shut down liquefied natural gas production at the world’s largest export facility following a drone attack linked to Iran, raising fresh concerns about global energy supply.

The shutdown affected the Ras Laffan industrial complex, operated by QatarEnergy. The facility accounts for about 20% of global LNG supply, making it a critical hub for energy markets in Europe and Asia.

Following news of the halt, European gas prices jumped by more than 50% in early trading as traders reacted to fears of a major supply disruption. Analysts warned that even a short-term outage could tighten global gas markets and push prices higher, especially as many countries rely heavily on LNG imports.

Europe remains particularly exposed, having increased its dependence on LNG in recent years to replace reduced pipeline gas supplies. Any prolonged disruption at Ras Laffan could strain storage levels and drive further price volatility.

Qatari authorities have not yet indicated when full operations will resume. Meanwhile, energy markets remain on edge, with investors closely monitoring developments amid rising geopolitical tensions in the Middle East.