Iran threatens Gulf energy facilities after Israeli attack on its largest gasfield
Iran warns of Gulf energy strikes following Israeli assault on key gasfield
Iran has vowed to strike energy infrastructure across the Gulf region in response to Israeli attacks on its most significant gas reserves, marking the first direct assaults on its fossil fuel production since the conflict began. The Iranian Revolutionary Guards declared intentions to retaliate against facilities in Saudi Arabia, the UAE, and Qatar “within the next few hours,” according to state media reports. These strikes targeted the South Pars gasfield, a shared resource with Qatar, which holds the world’s largest natural gas reserves. Israeli outlets claimed the assault was conducted with U.S. approval, intensifying tensions in the region.
Global energy markets react to escalating threats
The attack on Iran’s gas infrastructure represents a major step in the military campaign by the U.S. and Israel. Until now, these nations had largely avoided damaging Iran’s oil and gas sector, helping to stabilize oil prices. However, the recent strikes pushed the global oil benchmark toward $110 per barrel, as fears of supply disruptions grew. Europe’s gas prices surged by over 7.5%, reaching €55.50 per megawatt hour, amid concerns over potential disruptions.
“These centres have become direct and legitimate targets and will be targeted in the coming hours. Therefore, all citizens, residents, and employees are requested to immediately leave these areas and move to a safe distance without any delay,” the warning stated.
Eskandar Pasalar, the governor of Asaluyeh in southern Iran, called the U.S.-Israeli escalation “political suicide.” He told state media that the war’s focus has shifted to “a full-scale economic war.” Meanwhile, a Qatari government representative, Majid al-Ansari, emphasized that targeting energy facilities poses a “threat to global energy security, as well as to the peoples of the region and its environment.”
Earlier in the war, Iranian drones and missiles hit the UAE’s Shah natural gasfield, one of the world’s largest. The attack also struck Iraq’s Majnoon oilfield and the UAE’s Fujairah port, a critical hub for oil storage. Daily exports from the region have dropped by at least 60% compared to prewar levels due to damage from strikes and Iran’s control over the strait of Hormuz. Despite this, Iran has continued to ship crude oil through the strait, though it has threatened to ignite vessels from neighboring Gulf states.
The conflict has already strained global energy markets, with oil prices briefly surpassing $116 per barrel last week—the highest since May 2022. Traders are now factoring in the war’s impact on supply chains, leading to increased volatility in both oil and gas benchmarks.
