Oil and gas installations in the Persian Gulf region came under attack on Thursday as Israel carried out airstrikes on the South Pars natural gas field, a crucial energy source for Iran. This event marked a significant escalation in the ongoing conflict in the Middle East.
Following the assault on South Pars, U.S. President Donald Trump stated that Israel would not target the gas field again. However, he warned that if Iran persisted in attacking Qatar’s energy infrastructure, the U.S. would respond by severely damaging the entire field.
The strikes on oil and gas facilities in the area, coupled with the closure of the vital Strait of Hormuz, have significantly disrupted global energy supply chains and led to a surge in energy prices.
News of the South Pars attack prompted an immediate increase in global oil prices and a rise in gas prices in Europe, as concerns grew over potential Iranian retaliation on other Gulf energy facilities.
Here is an overview of the key sites targeted in the Middle East and the anticipated energy disruptions they are expected to cause:
South Pars Natural Gas Field (Iran): After Israel’s strike on South Pars, Iran intensified its attacks on Gulf energy facilities. South Pars, known as the North Field in Qatar, is the largest natural gas deposit globally and a critical source of domestic energy for Iran. Approximately 80% of Iran’s natural gas supply comes from South Pars, making it a vital energy asset for the country.
Ras Laffan Facility (Qatar): Qatar’s Ras Laffan facility, a major liquefied natural gas (LNG) producer, suffered extensive damage in the attacks, impacting its LNG export capacity. The attacks have jeopardized supplies to Europe and Asia, resulting in an estimated $20 billion loss in annual revenue for Qatar.
SAMREF Refinery (Saudi Arabia): The SAMREF refinery, jointly owned by Aramco and Exxon, was hit by a drone strike, with the extent of the damage still being assessed. The refinery, a key crude export outlet for Saudi Arabia, processes over 400,000 barrels of Arabian Light crude oil per day.
Other Targeted Sites: The attacks on energy facilities have also affected operations at the Habshan gas facility in Abu Dhabi, where falling debris from intercepted missiles led to suspensions. Additionally, refineries in Kuwait and oil installations in Israel were targeted, causing fires and disruptions but limited significant damage.
The recent escalation in attacks on energy infrastructure has drawn condemnation from regional and international bodies, emphasizing the dangerous escalation in the conflict. The situation remains fluid as authorities work to assess the damage and restore operations across the affected sites.
