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Qatar LNG Exports Fall 96% Amid US-Iran War — Aug 26, 2026Qatar's LNG exports plunged 96% over six months of the US-Iran war, costing about $24 billion and forcing budget cuts of up to 30% and a major reduction in overseas aid. Only 18 cargoes were shipped versus 509 a year earlier as damage to Ras Laffan and disruptions through the Strait of Hormuz disrupt global supply, with repairs potentially taking up to five years and Europe facing possible price spikes amid low gas storage.