March 20th news: Damage to Qatar's liquefied natural gas (LNG) facilities has led to a reduction in its export volume by approximately 17%, causing European natural gas prices to rise. Repair work could take several years. What was initially considered a short-term supply disruption has now evolved into a multi-year supply shock, tightening global market supply and pushing up long-term prices, particularly for contracts maturing in 2027. Buyers are adopting a wait-and-see approach, traders are proceeding with caution, and market volatility has surged significantly. Although current mild weather is suppressing gas demand, prices could rapidly increase once temperatures drop.