Qatar said Iranian missile strikes on Ras Laffan Industrial City have reduced the country’s liquefied natural gas (LNG) export capacity by 17%, with losses estimated at around $20 billion annually and repairs expected to take up to five years.

State-owned QatarEnergy said on the US social media company X’s platform that the damage was caused by missile strikes that hit the industrial city Wednesday and in the early hours of Thursday, affecting supplies to markets in Europe and Asia, The Caspian Post reports, citing Anadolu Agency.

“I am relieved to confirm that no one was injured by these unjustified and senseless attacks, which weren’t just an attack on the State of Qatar but attacks on global energy security and stability,” said Qatari Minister of State for Energy Affairs and QatarEnergy CEO Saad Sherida Al-Kaabi.

The company said the attacks damaged LNG Trains 4 and 6, with a combined production capacity of 12.8 million metric tons per annum, representing about 17% of Qatar’s exports.

Train 4 is a joint venture between QatarEnergy, which holds 66%, and ExxonMobil, which owns 34%, while Train 6 is jointly owned by QatarEnergy with a 70% stake and ExxonMobil with 30%, according to the statement.

Al-Kaabi said the damage to the LNG facilities would take between three and five years to repair, forcing the company to declare long-term force majeure on some LNG contracts.

“The impact is on China, South Korea, Italy and Belgium. This means that we will be compelled to declare force majeure for up to five years on some long-term LNG contracts,” he said.

The attacks also targeted the Pearl GTL facility, a production-sharing project operated by Shell that converts natural gas into cleaner-burning fuels as well as base oils, paraffins and waxes.

QatarEnergy said one of Pearl GTL’s two trains is expected to remain offline for at least one year while damage assessments continue.

The company also warned of losses in associated product output because of the outage, including 18.6 million barrels of condensates, or around 24% of Qatar’s exports, 1.281 million tons of liquefied petroleum gas (LPG), equal to about 13% of exports, and 0.594 million tons of naphtha, representing around 6%.

It also forecast losses of 0.18 million tons of sulfur and 309.54 MCFA of helium, each accounting for around 6% and 14% of Qatar’s exports, respectively.

The development comes amid a joint US-Israeli offensive on Iran that began on Feb. 28 which has killed around 1,300 people so far.

Iran has retaliated with drone and missile strikes targeting Israel along with Jordan, Iraq and Gulf countries hosting US military assets.

QatarEnergy previously declared force majeure earlier this month to affected buyers after halting production of LNG and related products following Iranian drone strikes.