<div id="readability-page-1"><p>Shares in oil giant Shell (SHEL) were lower today after one of its gas plants in Qatar suffered &#34;extensive damage&#34; from an Iranian missile attack.</p><h3>Claim 70% Off TipRanks Premium</h3><ul><li>Unlock  hedge fund-level data  and  powerful investing tools  for smarter, sharper decisions  </li><li> Stay ahead of the market with  the latest news and analysis  and maximize your portfolio's potential</li></ul> <h2><strong>Shell Staff are Safe</strong></h2> <p>Shell said the attack on Ras Laffan Industrial City on the evening of March 18 led to a fire within the Pearl GTL facility. It said the fire was &#34;rapidly extinguished&#34; and that all staff on site are safe. It added that the situation is under control and that the plant is in a safe state.</p> <p>&#34;We are currently assessing any potential damage to Pearl GTL and working with QatarEnergy and the relevant authorities to understand the damage to the wider Ras Laffan Industrial City facilities,&#34; it said in a statement.</p> <p>However, state-run QatarEnergy was more dramatic declaring that the attack had caused &#34;extensive damage&#34; to the site.</p> <p>Developed in partnership with QatarEnergy, Pearl Gas-to-Liquids (GTL) is the world's largest GTL plant. Up to 1.6 billion cubic feet per day of wellhead gas from 22 offshore wells is converted to gas-to-liquids using Shell's proprietary Shell Middle Distillate Synthesis (SMDS) process.</p> <p>The work at the plant involves converting gas into liquid products that include fuel for transport, motor oils and the ingredients for everyday goods such as plastics, detergents and cosmetics.</p> <h2><strong>Gas Prices Soar</strong></h2> <p>Shell has other sites in Qatar, including Qatargas 4, which is a fully integrated liquefied natural gas (LNG) asset with joint ownership by QatarEnergy (70%) and Shell (30%). It comprises offshore production platforms and pipelines; onshore gas processing, treatment and liquefaction facilities.</p> <p>LNG production in Qatar has been shut down since early March and the worry is that the escalation of the conflict into an 'energy' rather than 'military war' will mean it could be suspended for some time to come.</p> <p>The attacks led to gas prices soaring to a three-year high and oil prices spiking higher. More action could follow given President Trump's threats to &#34;massively blow up the entirety&#34; of Iran's South Pars gas field if the nation attacks Qatar's facilities again.</p> <p>Kathleen Brooks, research director at XTB, said the escalation in the conflict was &#34;spooking the market&#34;. &#34;This war looks far from over, and the energy crisis is shifting from a shipping crisis to a supply crisis,&#34; she said.</p> <h2><strong>Is SHEL a Good Stock to Buy Now?</strong></h2> <p>On TipRanks, SHEL has a Moderate Buy consensus based on 5 Buy and 3 Hold ratings. Its highest price target is $106. SHEL stock's consensus price target is $89.17, implying a 3.86% downside.</p> </div>

<p>Shares of Shell (SHEL) fell after an Iranian missile attack caused extensive damage to its gas plant in Qatar. The attack on March 18 led to a fire at the Pearl GTL facility, which was quickly extinguished, and all staff are safe. QatarEnergy reported significant damage, raising concerns over LNG production and escalating gas prices to a three-year high. Analysts warn that the conflict may shift from a shipping crisis to a supply crisis, impacting market stability. SHEL has a Moderate Buy consensus with a price target of $89.17, indicating a potential downside.</p>

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Shell Stock (SHEL) Shatters after Iranian Missile Causes 'Extensive Damage' to Qatar Gas Plant