“Due to military attacks on QatarEnergy’s operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City in the State of Qatar, QatarEnergy has ceased production of liquefied natural gas (LNG) and associated products,” the world’s largest LNG producer said in a statement on Monday.

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Shortly after the announcement, natural gas prices in Europe soared by almost 50 percent.

Earlier, Qatar’s Defence Ministry said the country was attacked by two drones launched from Iran. “One drone targeted a water tank belonging to a power plant in Mesaieed, and the other targeted an energy facility in Ras Laffan Industrial City, belonging to QatarEnergy, without reporting any human casualties,” it said in a statement.

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The Saudi Ministry of Defence, in reports carried by the state-run Saudi Press Agency (SPA), said two drones had “attempted to attack” the Ras Tanura refinery on Monday morning, and that a “small” fire had broken out after they were intercepted.

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Ras Tanura oil refinery, one of the world’s largest oil processing facilities located near the eastern city of Dammam, has a capacity of 550,000 barrels per day. The facility is home to one of the largest refineries in the Middle East and is considered a cornerstone of the kingdom’s energy sector.

The attacks come as oil tankers have been piling up on either side of the Strait of Hormuz, through which about a fifth of the world’s seaborne oil and the bulk of Qatari gas flows.