Qatar warns global energy shockwaves from Iran war have yet to peak

Doha, Qatar – Qatar's deputy prime minister has cautioned that global energy shockwaves from the US-Israel war on Iran have yet to reach their peak, raising worries regarding further disruption to supplies, international trade and economic expansion.

Key points

• Speaking at the Global Security Forum in Doha on Monday, Sheikh Saoud bin Abdulrahman Al Thani.
• Al Thani expressed hope that mediation efforts involving Qatar, Pakistan and Oman would support produce an agreement between the United States, Iran and other parties, including Israel.
• Iranian strikes on Qatar's Ras Laffan industrial complex in March damaged facilities, with repairs projected to take a number of years.
• He remarked a sustainable settlement would require broader regional dialogue involving Gulf Cooperation Council (GCC) countries, Pakistan and Turkiye, in consultation with international allies.
• Despite the attacks, Al Thani remarked Qatar continued to maintain contact with Tehran.

Speaking at the Global Security Forum in Doha on Monday, Sheikh Saoud bin Abdulrahman Al Thani. This person additionally serves as Minister of State for Defence Affairs, identified a number of threats facing Qatar and the wider Gulf, including risks to sovereignty and disruptions to energy supplies.

"We haven't reached the peak with respect to energy, " he remarked, warning of further repercussions "in the coming days and months".

His remarks come against the backdrop of continued instability in the Strait of Hormuz – a vital waterway for global oil and liquefied natural gas (LNG) shipments – after the US-Israeli attacks on Iran on February 28, and Tehran's retaliatory strikes throughout the region.

"We were surprised, " Al Thani remarked when asked concerning the attack, adding that there had since been "a lot of discussion with Iran".

He remarked Qatar had drawn lessons from the strikes, "to make sure that all of our assets will be protected from any unexpected attack".

Al Thani additionally cautioned against imposing tolls on ships passing through the Strait of Hormuz.

"Transit fees should not be applied, " he remarked, adding that uncertainty over the waterway would ultimately affect consumers worldwide. 'We never stop our communication'.

"We never stop our communication, " he remarked, adding that the two countries remained in touch at different levels despite their disagreements.

He described Qatar's relationship with Iran before the attacks as one of trust, pointing to their shared offshore gasfield and longstanding economic interests.

He remarked a sustainable settlement would require broader regional dialogue involving Gulf Cooperation Council (GCC) countries, Pakistan and Turkiye, in consultation with international allies. "We need to build this on trust, " he continued.

Al Thani additionally suggested developing economic ties with Iran to prevent future conflicts, citing cooperation between France and Germany after decades of hostilities.

"Iran is our neighbour. We need to find ways to live with them, " he remarked.

Al Thani additionally highlighted Qatar's longstanding defence partnership with Washington, saying that "more than 90 percent" of attacks had been prevented through shared expertise and military capabilities developed over the past three to four decades.

He remarked Qatar was continuing to develop Al Udeid airbase. It hosts US forces and military personnel from other partner countries.

Meanwhile, the base was itself targeted by Iran during the conflict, with Qatar reporting that it had shot down two Iranian warplanes during an attack in early March.

Al Thani additionally unveiled intends for a new regional defence partnership, saying Qatar was prioritising a number of aspects including air defence, counter-drone measures and cybersecurity.

"I'm happy to announce today also that soon we're going to announce a new partnership, " he remarked, without naming the regional partners involved.

In practice, the deputy prime minister stressed that Qatar's mediation efforts did not diminish its commitment to defending its territory.

"Mediation doesn't mean that we should not be ready for any defensive action from our side, " he remarked.

Taken together, the developments around qatar warns global energy shockwaves from Iran war have yet to peak point to a situation that is still moving, and the coming days should bring more clarity.