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Originally published by Capital Business
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business
May 7, 2026
4h ago

Gulf economies face long-term hit from Iran conflict

Gulf economies face long-term hit from Iran conflict

An Iranian ballistic missile struck the main Ras Laffan gas complex, knocking out an estimated 17% of global LNG supply. Kenya breaking news | Kenya news today |..

✨ Key Highlights

A recent conflict involving Iran has severely impacted Gulf economies, with an attack on Qatar's main LNG complex causing significant disruption and financial loss.

  • An estimated 17% of global LNG supply was knocked out, with repairs expected to take three to five years.
  • Key actors include QatarEnergy, led by CEO Saad Al Kaabi, and Iran, whose actions stem from an earlier Israeli strike on its South Pars gas field.
  • The overall damage across the Gulf states is estimated at up to $58bn, with the World Bank cutting its Middle East growth forecast.

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