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Why are gas prices soaring and how could it affect you?

BBC News·@Bbc·2 months ago
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A major gas facility in Qatar has been hit by missile attacks, causing "extensive damage", the country's state-run energy firm has said. The Iranian strikes follow reports that Israel hit a petrochemical complex in Iran. The attack on Qatar's Ras Laffan industrial hub has sent gas prices soaring. Ras Laffan Industrial City is Qatar's main site for producing liquefied natural gas (LNG), which is used globally for cooking, heating homes and generating electricity. It produces about a fifth of the world's supply of LNG. As well as processing LNG, the industrial hub's other facilities include a gas-to-liquids plant, LNG storage and an oil refinery. It is located 80km (50 miles) north-east of Qatar's capital Doha, and close to the world's largest gas field that the country shares with Iran. The Iranian side is called South Pars; Qatar's side is called North Dome and covers an area of more than 6,000 sq km (2,315 sq miles). Ras Laffan is run by the state energy company QatarEnergy.…

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