Iran's facilities associated with the massive offshore South Pars Natural Gas Field were under attack on Monday. Israel Defence Minister Israel Katz claimed that it had hit Iran's petrochemical facility in Asaluyeh.
They, however, did not elaborate any further. So far it is not known if there are any casualties or not.
Katz said Israel had “just carried out a powerful strike on the largest petrochemical facility in Iran, located in Asaluyeh, a central target responsible for about 50 percent of the country's petrochemical production.”
In March South Pars Gas Field came in spot light after a wave of strikes on its facilities.
The offshore field, jointly operated by Iran and Qatar, is the largest natural gas reservoir on Earth and a critical pillar of global energy supply. The attack in March raised fears of a broader escalation in the Middle East energy war, sending oil prices sharply higher and threatening disruptions to global gas markets.
ALSO READ: Hormuz Row: 'Special Measures' Enacted To Ensure Safe Passage Of Indian Vessels, Says Iran's Envoy
Why Is South Pars So Important?
The South Pars/North Dome gas field straddles the maritime border between Iran and Qatar in the Persian Gulf and covers roughly 9,700 square kilometres. It is widely regarded as the largest known natural gas field in the world.
Energy analysts estimate the field holds around 1,800 trillion cubic feet of gas, representing roughly 8% of the world's proven gas reserves, according to studies cited by the International Energy Agency. For both countries, the field is the backbone of their energy systems:
Iran's lifeline: South Pars accounts for about two-thirds of Iran's natural gas production, powering electricity generation, heating and its petrochemical industry.
Qatar's economic engine: The northern section, known as the North Field, underpins Qatar's status as one of the world's largest exporters of liquefied natural gas (LNG), supplying roughly 20% of global LNG demand.
Processing hubs such as Asaluyeh in Iran and Ras Laffan in Qatar serve as key nodes in the global gas supply chain.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
