Iran threatens Gulf energy facilities after Israeli attack on its largest gasfield
Iran threatens Gulf energy facilities after Israeli attack on its largest gasfield
In retaliation for Israeli strikes on its key gasfield, Iran has vowed to target energy installations across the Gulf, signaling a significant shift in the conflict’s trajectory. This marks the first time Iran’s fossil fuel production has been directly hit by attacks since the war began, according to reports.
Iran’s Revolutionary Guards announced plans to strike critical energy sites in Saudi Arabia, the UAE, and Qatar, with warnings of imminent action. State media revealed that Israeli missiles had targeted the South Pars gasfield, shared with Qatar, as part of a coordinated effort. The move is said to have the backing of the United States, as highlighted by Israeli outlets.
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,
Eskandar Pasalar, governor of Asaluyeh in southern Iran, called the escalation “political suicide.” He argued that the war has transitioned into a full-scale economic conflict, affecting regional stability. A Qatari official, Majid al-Ansari, emphasized that targeting energy infrastructure poses a risk to global energy security and regional populations.
Global oil prices surged to $110 a barrel as concerns over Gulf energy infrastructure intensified. Europe’s gas benchmark also rose sharply, exceeding €55.50 per megawatt hour, reflecting heightened market anxiety. Meanwhile, oil exports from the region dropped by at least 60% compared to prewar levels due to strikes and restricted flows through the Strait of Hormuz.
The third week of the war saw Iranian attacks on the UAE’s Shah natural gasfield, one of the world’s largest. Drones and missiles also struck Iraq’s Majnoon oilfield and the UAE’s Fujairah port, a major oil storage hub. These strikes forced Gulf allies to reduce production as storage capacities reached limits.
Despite the turmoil, Iran’s oil export facilities remained unaffected during a recent U.S.-backed attack on Kharg Island, its central processing hub. The country has maintained uninterrupted shipments of crude through the Strait of Hormuz, while threatening to ignite vessels from neighboring states. The ongoing situation continues to disrupt global energy markets, with prices climbing to $116 a barrel for the first time since May 2022.
