🔎 Direct Impact on Sembcorp

• No Facility Damage: Sembcorp rebuffed reports earlier this month that its UAE Fujairah F1 power and water plant was hit by Iranian strikes operations there continue normally.
• Supply Sources: Sembcorp stated its LNG cargo deliveries scheduled for 2026 are not sourced from the Middle East, reducing direct exposure to Qatar&rsquo s halted production.

🌍 Indirect Market Effects

• Global LNG Supply Shock: Qatar&rsquo s Ras Laffan plant accounted for ~20% of global LNG supply before the attack. Its shutdown has already sent European gas prices up ~6% and Brent crude up ~5%.
• Price Volatility: Sembcorp, as a major power and utilities player, could face higher input costs for LNG and oil-linked contracts. This may pressure margins unless costs are passed through to customers.
• Energy Security Concerns: Asian markets (including Singapore) rely heavily on imported LNG. Prolonged outages in Qatar could tighten supply and raise procurement costs for regional utilities.

📊 Scenario Table: Impact on Sembcorp

⚖ ️ Risks & Considerations

• Fuel Cost Pass-through: Sembcorp&rsquo s contracts often allow cost pass-through, but timing and regulatory approvals matter.
• Market Hedging: If Sembcorp hedged LNG purchases, near-term volatility may be cushioned.
• Regional Competition: Asian buyers (Japan, Korea, Singapore) will compete harder for non-Qatar LNG cargoes, potentially raising procurement costs.