Gas prices in Europe spiked by 35% on Thursday amid supply concerns, Bloomberg reported.

The concerns were triggered after Iran struck energy facilities across the Gulf, including Qatar’s main liquefied natural gas complex, in retaliation to an attack on its refinery on Wednesday.

Qatar on Thursday reported “extensive damage” after Iran struck the Ras Laffan industrial complex, home to the world’s largest liquefied natural gas facility. The complex supplied 19% of global liquefied natural gas exports in 2025.

Ras Laffan was struck after the Israeli-United States forces on Wednesday hit Iranian energy facilities associated with its South Pars gas field, the world’s largest gas reserve that it shares with Qatar.

The Iranian strikes also hit the Habshan gas facility and the Bab oil field in the United Arab Emirates.