Riyadh: Attack on natural gas production facilities in the Middle East marks another turning point in the ongoing conflict. Last week, Israel launched a major attack on Iran's South Pars gas field. While the overall damage wasn't extensive, it's considered the clearest sign of an escalating conflict in the region. South Pars is part of the world's largest natural gas reserves and a major energy source for Iran's power generation and industry, producing 70-80% of the natural gas used for electricity, petrochemicals, and household heating.
According to Thai News Agency, the South Pars gas field, located beneath the Persian Gulf, spans an area of 9,700 square kilometers and contains vast reserves that could supply the world's gas needs for 13 years. Ownership of this area is shared between Iran and Qatar, making it a critical energy resource for both countries. The recent Israeli attack on South Pars is seen as a strategic move to disrupt Iran's economic stability by directly targeting its energy infrastructure, leading to a significant reduction in Iran's gas production capacity and causing widespread power outages.
The ramifications of this attack extend beyond Iran. Qatar, which shares the gas field, condemned the attack, citing risks to the safety of its gas wells and potential threats to its Western allies. In response to the attack, Iran retaliated by targeting energy facilities in Qatar, including the Ras Laffan industrial complex, significantly impacting Qatar's LNG export capacity.
The escalation has transformed the conflict into a full-blown regional energy war, with global implications. The attack on Ras Laffan has already caused a surge in gas prices in Europe by more than 35 percent. Experts warn that the damage to gas production facilities could take years to repair, potentially leading to a long-term impact on global energy supply.
The situation is further complicated by the involvement of the United States. US President Donald Trump has threatened military intervention if Iran continues its attacks on Qatar's energy facilities. The potential destruction of the South Pars gas field by the US would have severe ecological consequences due to the high pressure of the gas reserves.
A recent meeting in Saudi Arabia saw foreign ministers from 12 Arab and Islamic countries condemning Iran's military actions and calling for an immediate cessation of hostilities. The meeting emphasized the importance of respecting national sovereignty and highlighted the potential for a global economic recession should the conflict lead to the closure of the Strait of Hormuz.
The current scenario reflects an "energy-for-energy" conflict, with each side targeting the other's energy infrastructure. The situation remains highly volatile, with global energy markets closely monitoring developments in the region.