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Qatar LNG Shutdown Sends European Gas Prices Soars Over 50percent
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By Kayode Sanni-Arewa
Qatar shut down liquefied natural gas production at the world’s largest export facility after it was targeted in an Iranian drone attack, sending European gas prices surging more than 50% and rattling global energy markets.
QatarEnergy’s Ras Laffan plant covers about a fifth of global LNG supply and the unprecedented halt now threatens energy security worldwide.
European benchmark gas futures jumped the most since the energy crisis in 2022, after QatarEnergy confirmed Monday that output had been suspended. Tankers had already largely stopped transiting the Strait of Hormuz, a critical artery for global fuel shipments.
“The threat to security of supply is here and now,” said Simone Tagliapietra, an analyst at Bruegel. “The extent of it will depend on the duration of the shutdown, but we are now into a new scenario.”
European Gas Surges to Highest in a Year
While Asian countries buy most of the LNG shipped from the Middle East, a disruption will increase competition for alternative supplies — pushing up prices worldwide, including in Europe.
European gas prices are rallying as storage inventories are unusually low, and the region needs to import large volumes of LNG this summer to refill them ahead of next winter. While the intraday surge is the biggest since Russia’s invasion of Ukraine four years ago, benchmark prices are only at a one-year high because regional supplies haven’t been directly disrupted and traders are still assessing how long the conflict will last.
The Strait of Hormuz is a key waterway for energy, carrying roughly 20% of the world’s LNG. The dramatic slowdown of traffic through the strait has created major bottlenecks potentially causing fuller storage tanks for QatarEnergy. The company has declared force majeure on its contractual obligations to deliver LNG to its customers, according to people with knowledge of the matter. So far there haven’t been any reports of damage at the facility.
The key question for traders is how long the disruption will last. If shipping through the Strait of Hormuz were halted for a month, European gas prices could more than double, according to Goldman Sachs Group Inc.
Even if the US boosts LNG production, it’s unlikely to be enough to offset supply from Qatar in the near-term. QatarEnergy is scheduled to start its Golden Pass expansion project in the US in the coming weeks but the facility won’t be at full capacity until next year.
US President Donald Trump said the bombing campaign against Iran could last for weeks. The conflict continues to deepen, with blasts heard across Israel, Saudi Arabia, Qatar and the United Arab Emirates, as states intercepted Iranian missiles launched in response to US-Israeli strikes.
Israel on Saturday ordered the temporary closure of some gas-producing capacities, including its biggest Leviathan gas field. That prompted major importer Egypt to seek more LNG cargoes.
Gas trade disruptions in the Middle East could also eventually raise spot LNG demand from Turkey, according to BloombergNEF, as it imports pipeline fuel from Iran.
Dutch front-month futures, Europe’s gas benchmark, traded 46% higher at €46.77 a megawatt-hour by 2:31 p.m. in Amsterdam. That’s the highest level since February 2025.
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INEC set to publish details of 2027 Presidential, National Assembly candidates on August 1
The Independent National Electoral Commission (INEC) will on Saturday, August 1, 2026, publish the particulars of all presidential and National Assembly candidates contesting the 2027 general election for public inspection at its offices across the country.
The publication of the candidates’ details, contained in Form EC9, is in compliance with Section 29(3) of the Electoral Act, 2026, which requires the commission to make the personal particulars of nominated candidates available for public scrutiny within 21 days of receiving them.
Political parties concluded the online submission of the names, personal particulars and other required documents for their presidential and National Assembly candidates on Tuesday, July 14, 2026, after INEC granted a 72-hour extension to the original deadline. ExecutiveBranch
Under the commission’s revised timetable, nominations for presidential and National Assembly candidates were initially scheduled to be submitted between June 27 and July 11, 2026.
Section 29(1) of the Electoral Act, 2026, requires political parties to submit Forms EC9, EC9A, EC9B, EC9C, EC9D and EC9E, containing the names and personal particulars of their nominated presidential and National Assembly candidates, not later than 120 days before the election.
Speaking on whether the 72-hour extension would affect the publication date, INEC Deputy Director of Publicity, Wilfred Osilama Ifogah, said he did not expect any change, although he stressed that he was expressing a personal opinion rather than the commission’s official position.
“I doubt. It might not necessarily affect it. It’s just for the Commission to put the information together and submit it. This is my opinion. I’m not talking officially. When it gets to the time, you will see whether the Commission will publish it or not,” he said.
Meanwhile, the online submission of nominations for governorship and State Houses of Assembly candidates, which commenced on July 18, will continue until August 8, 2026.
INEC has scheduled August 29, 2026, for the publication of the personal particulars of governorship and State House of Assembly candidates through Form EC9.
The commission had earlier conducted party primaries for all elective positions between April 23 and May 30, 2026.
According to INEC’s election timetable, the presidential and National Assembly elections will hold on January 16, 2027, while the governorship and State Houses of Assembly elections are scheduled for February 6, 2027
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CSOs, Youth Groups Push for Inclusive NYSC Reform, Convene National Dialogue
By Gloria Ikibah
A coalition of civil society organisations and youth groups has announced plans to convene a national dialogue on proposed reforms to the National Youth Service Corps (NYSC), seeking to ensure that the review process reflects the views of Nigerians before the Federal Government takes a final position.
The initiative, being organised by the Centre for Equity, Justice and Transparency in partnership with the Save Nigeria Movement, is expected to bring together policymakers, academics, former corps members, youth organisations, security agencies and other stakeholders to examine the future of the scheme and recommend practical reforms.
Convened by legal practitioners Sorkaa Tsembelee and Patrick Agbese, the one-day dialogue aims to generate a comprehensive working document that will be presented to the Federal Government as part of ongoing efforts to review the NYSC Act.
In a statement issued on Friday, the organisers said the forum was intended to provide an inclusive platform where stakeholders could contribute meaningfully to the reform process.
The statementread: “The essence of this dialogue is for critical stakeholders to make input into the proposed NYSC reforms before the President’s administration takes final decisions.
“We will have senior academics, former corps members, youth groups and other members of society to dissect the proposed reforms thoroughly.
“It will thereafter catalyse into a working document for the Federal Government. We will invite the CDS, the Army and others. Let everyone look at it and say their own.”
Established in 1973 after the Nigerian Civil War, the NYSC was designed to promote national unity, encourage integration among young graduates and foster national development through compulsory service outside their states of origin. Over the decades, corps members have played significant roles in education, healthcare, agriculture and community development, particularly in underserved communities.
However, growing concerns over the safety and welfare of corps members, inadequate funding, deployment policies and questions surrounding the relevance of some aspects of the programme have fuelled calls for a comprehensive review.
The organisers said the dialogue will assess whether the scheme still aligns with its founding objectives while identifying legislative and policy changes needed to address present-day realities.
They maintained that while reforms were necessary, the NYSC’s central mission of promoting national cohesion should be preserved alongside efforts to strengthen skills development, entrepreneurship and youth empowerment.
“This is not about tearing down an institution that has served Nigeria well; it is about refining it with the collective wisdom of those who have lived the experience and those who study its impact.
“Former corps members carry practical insights that policymakers often miss, and we want those voices at the table.
“Youth groups and civil society must not be spectators while decisions that will shape the next generation of Nigerian graduates are taken. The dialogue creates the space for genuine, structured input”, it added,.
According to the organisers, discussions will focus on critical issues including corps members’ welfare, security, orientation camp facilities, deployment procedures, funding mechanisms and the effectiveness of the Community Development Service (CDS) programme.
They added that academics will provide comparative analyses of national service models in other countries, while security agencies would offer institutional perspectives on improving the protection of corps members, particularly those posted to areas affected by insecurity.
“We cannot discuss NYSC reforms without hearing from those who secure the environment in which corps members serve. The CDS and the Army have institutional knowledge that is indispensable.
“Their perspectives on logistics, security and inter-agency coordination will enrich the final document.
“Senior academicians will help us situate the proposed reforms within the broader context of nation-building. We need evidence-based contributions, not just opinions”, the said.
The organisers said the ultimate goal was to produce practical recommendations capable of informing both legislative and executive action.
They explained that the final report would reflect contributions from former corps members, scholars, security agencies, youth organisations and civil society groups, providing government with workable proposals for strengthening the scheme without compromising its original mandate.
“The working document that emerges from this dialogue must be something the government can work with.
“It should reflect the views of those who have served, those who teach, those who protect, and those who advocate.
“Anything less would be a missed opportunity. We are calling on all stakeholders to come prepared to engage constructively.
“The future of the NYSC is too important to be decided in isolation. This national dialogue is our contribution to an open, inclusive process”, the statement further read.
News
No plans to increase electricity tariffs – Power Minister assures Nigerians
The Minister of Power, Joseph Tegbe, has declared that President Bola Tinubu’s administration has no intention to jerk up electricity tariffs beyond the current level.
He disclosed this during a media briefing in Abuja on Friday.
According to him, the Tinubu administration’s priorities are improving electricity service delivery, expanding access to electricity, and ensuring that Nigerians pay only for the electricity they consume.
The minister said that, over the last two weeks, the country has consistently generated 5,000 megawatts of electricity.
“We are already witnessing encouraging improvements in electricity generation. Over the course of the last two weeks, we have consistently generated 5,000MW.
“Permit me to address two issues that have generated considerable public discussion. First, there is no policy by this administration to increase electricity tariffs beyond the current level. Our priority is not a tariff increase in the immediate term. Our priority is service improvement, universal metering, and ensuring Nigerians pay only for the electricity they actually consume,” he stated.
He added that the objective of the Federal Government is to provide reliable electricity to homes across the country.
“Our ambition is clear: reliable electricity that powers our homes.”
Tegbe’s comments come amid debate over a fresh electricity tariff hike, fuelled by remarks made by Tinubu’s Special Adviser on Power Infrastructure, Sadiq Wanka.
Nigerian electricity consumers have kicked against the proposed electricity tariff hike.
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