New Delhi:
In a dramatic escalation of regional tensions, Israel launched a direct airstrike on Iran’s South Pars gas field, forcing Iran to shut down a key processing unit and halt the production of 12 million cubic metres of gas per day. The strike, which targeted Phase 14 of the facility, marks Israel’s first-ever attack on Iranian energy infrastructure — a move analysts say could have serious global consequences.
What is the South Pars Gas Field?
Located off the coast of Bushehr Province, South Pars is the world’s largest natural gas reserve, jointly shared by Iran and Qatar (where it’s known as the North Field). It accounts for around 66% of Iran’s domestic gas supply, critical for electricity, heating, and petrochemical production.
Iran, the third-largest natural gas producer globally after the US and Russia, mostly consumes its gas domestically due to sanctions, with limited exports to countries like Iraq.
Meanwhile, Qatar, supported by energy giants like ExxonMobil and Shell, exports over 77 million tonnes of LNG annually to global markets — particularly Asia and Europe.
Why This Strike Is a Major Turning Point
1. Economic Warfare Begins
While previous Israeli operations focused on Iranian nuclear or military targets, this strike breaks new ground — directly hitting Iran’s economic lifeline.
“This is the most significant attack on energy infrastructure since the 2019 Abqaiq strike in Saudi Arabia,” said Jorge Leon of Rystad Energy, speaking to Bloomberg.
2. Threat to Global Supply Chains
The gas field’s proximity to Qatar and the Strait of Hormuz — a vital chokepoint for global oil and LNG flows — adds urgency. Any broader conflict could disrupt 14 million barrels of daily oil shipments and 21% of the world’s LNG.
Analysts fear future retaliations might target Qatari infrastructure or Israeli energy assets, escalating the situation further.
3. Oil Markets Already Reacting
The airstrike caused a 14% spike in global oil prices, with crude trading near $73 per barrel. While South Pars gas is mostly for domestic use, the symbolic nature of the strike sends a clear warning: energy assets are now fair game in this conflict.
Iran’s Fragile Energy Reality
Even before the strike, Iran faced crippling gas shortages, leading to rolling blackouts and economic losses nearing $250 million per day, as per Iran’s Chamber of Commerce. Sanctions and aging infrastructure have left Iran vulnerable, and any damage to its energy sector could take months — if not years — to repair.
“This could be disastrous,” said Abdollah Babakhani, an Iran-based energy analyst. “Repairing damaged energy infrastructure under sanctions is both slow and expensive.”
A Tense Future for Global Energy
As tensions rise, oil-dependent regions in Europe and Asia are bracing for market shocks. The strike shows that energy is no longer off-limits in warfare, and even domestic infrastructure in volatile zones can shake global supply and pricing systems.
With Iran vowing “stronger retaliation” and calls for de-escalation being ignored, energy security worldwide may now hang in the balance.
