Iran threatens Gulf energy facilities after Israeli attack on its largest gasfield
Iran Threatens Gulf Energy Facilities After Israeli Attack on its Largest Gasfield
Iran has announced plans to strike key energy sites across the Gulf in response to Israeli strikes on its primary gasfield, the first direct assaults on its fossil fuel production since hostilities began. The Revolutionary Guards have vowed retaliatory actions targeting facilities in Saudi Arabia, the UAE, and Qatar, with the threat of immediate strikes reported by state media.
State-run Iranian outlets identified the South Pars gasfield, shared with Qatar, as a critical target after Israeli missiles hit its infrastructure. Israeli media indicated the attack was carried out with U.S. approval, escalating tensions and signaling a shift in the conflict’s focus. The assault on Iran’s core gas reserves has drawn attention as a pivotal moment in the military campaign involving the U.S. and Israel.
“These centers 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 said.
Until now, the U.S. and Israel had largely avoided damaging Iran’s oil and gas sector, helping to curb global oil price spikes. However, the oil price surged to $110 per barrel on Wednesday, fueled by concerns over potential supply disruptions, amid the ongoing blockade of the Strait of Hormuz.
The attack has triggered fears of broader economic fallout, with Iran’s state media listing Saudi Arabia’s Samref refinery and Jubail petrochemical complex, the UAE’s al-Hosn gasfield, and Qatar’s Mesaieed complex as potential targets. The warning emphasized the urgency of evacuation efforts.
“These centers 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 said.
Eskandar Pasalar, governor of Asaluyeh in southern Iran, called the U.S.-Israeli escalation “political suicide,” stating that “the pendulum of war has swung” to a “full-scale economic war.” A Qatari official, Majid al-Ansari, warned that targeting energy infrastructure risks global supply stability and regional environmental safety.
The international oil benchmark rose by 5% to $108.60 per barrel, while Europe’s gas price climbed over 7.5% to €55.50 per megawatt hour. Earlier in the war, Iranian strikes on the UAE’s Shah gasfield, a major reserve, marked the third week of hostilities, with additional attacks on Iraq’s Majnoon oilfield and Fujairah, the UAE’s largest port.
Oil exports from the Gulf have dropped by at least 60% since the conflict started, due to strikes on pipelines and storage hubs. Gulf states have reduced production to avoid exceeding storage limits. Yet, Iran’s own oil infrastructure has remained largely intact, despite U.S. strikes on Kharg Island, which houses its oil processing center.
Recent U.S. actions on Kharg Island targeted military assets without affecting oil export operations. Meanwhile, Iran continues shipping crude through the Strait of Hormuz, maintaining its flow while threatening to ignite tankers from regional allies. This has pushed global oil prices beyond $116 per barrel, the highest since May 2022, as traders assess the war’s impact on energy markets.
