Shell (NYSE:SHEL) provided a critical update on its operations in Qatar following a series of security incidents at the Ras Laffan Industrial City.
On the evening of March 18, 2026, the industrial hub was targeted by missile strikes, resulting in a fire at Shell’s Pearl GTL (Gas-to-Liquids) facility.
The company confirmed that the blaze was rapidly extinguished by emergency response teams and that all staff and contractors on-site have been accounted for and are safe.
The attack marks a severe escalation in regional tensions that have disrupted one of the world's most vital energy corridors.
While the March 18 incident caused "extensive damage" to the Pearl GTL plant—the largest of its kind globally—liquefied natural gas (LNG) production at the site had already been suspended since early March following a separate drone incursion.
Shell, which holds a 100% interest in the Pearl GTL project and significant stakes in Qatari LNG trains, is currently collaborating with state-owned QatarEnergy to conduct a full damage assessment of the wider industrial complex.
The operational paralysis at Ras Laffan has sent shockwaves through global energy markets.
UK natural gas prices spiked by more than 20% on Thursday morning, hitting a three-year high, while Brent crude oil surged past $115 per barrel.
Earlier this month, Shell was forced to declare force majeure on several LNG delivery contracts, warning customers that shipments originally scheduled for April and beyond would face significant delays.
With Qatar typically accounting for roughly 20% of global LNG exports, analysts warn that a prolonged shutdown could lead to a sustained "supply crisis," particularly in Europe and Asia.
Qatari Energy Minister Saad al-Kaabi previously indicated that returning to normal delivery volumes could take "weeks to months," even if hostilities were to cease immediately.
Shell has stated it will provide further updates as the technical evaluation of the Pearl GTL facility and the surrounding infrastructure continues.