WASHINGTON, March 20. /TASS/. The shortage of liquefied natural gas (LNG) in the market due to the aggravated situation in the Middle East may pose a more serious problem for the global economy than disrupted oil supplies, David Ignatius wrote in his foreign affairs column for The Washington Post.

The conflict in the Middle East "entered a dangerous new phase Wednesday as Israel struck Iran’s South Pars gas field and Iran retaliated by hitting Qatar’s nearby liquefied natural gas facilities at Ras Laffan," Ignatius said.

"Gas may be an even bigger worry for the global economy than oil. Qatar provides about 20% of the world’s LNG supply, and spot prices have nearly doubled this month," the observer noted.

According to data shared by energy experts, "Gulf countries could export at least 7 million barrels a day using pipelines to bypass the strait [of Hormuz - TASS]," he noted.

"No such work-around exists for Qatari gas," Ignatius stressed.

"Unwinding this conflict will be much harder than starting it was" for the United States, the columnist indicated. "Declaring ‘victory’ and walking away would leave the region in dangerous disarray," he added.