**Israel’s Airstrike Hits Iran’s Gas Sector, Halting Production at World’s Largest Field**
In a significant escalation of tensions between Israel and Iran, an Israeli airstrike has triggered a fire at the South Pars gas field, the world’s largest. According to reports from the semi-official Tasnim news agency on June 14, production at the site has been partially suspended.
Located in southern Bushehr province, the South Pars field is a vital component of Iran’s energy infrastructure. It accounts for the bulk of the country’s gas output and shares its resources with Qatar, which refers to its portion as the North Field. The strike on South Pars represents a major escalation, particularly given the recent surge in oil prices following Israel’s initial wave of attacks.
On June 13, Israel launched an air offensive against Iran, targeting commanders, scientists, and nuclear sites in an effort to prevent Tehran from developing nuclear weapons. The attack marked the first time Israeli forces had targeted Iran’s vital oil and gas infrastructure.
**Impact on Global Energy Markets**
Iran is the world’s third-largest gas producer after the United States and Russia, producing approximately 275 billion cubic meters of gas per year – about 6.5% of global output. Given international sanctions, Iran consumes most of this domestically. Qatar, which operates the majority of the shared field with support from global firms such as Exxon and Shell, produces 77 million tonnes of liquefied natural gas annually, supplying both European and Asian markets.
The suspension of production at South Pars will undoubtedly have significant implications for global energy markets. The fire caused by the Israeli airstrike has been extinguished, but its impact on Iran’s energy sector and the broader global market remains to be seen.
Read More @ kyivindependent.com
