Israel attacks gas facility in Iran and energy prices soar

by Marcelo Moreira

Israeli military forces have launched new airstrikes on Iran’s important South Pars gas field, the largest such facility in the world, which is shared with Qatar. The move quickly rattled global energy markets.

An official in the country told AFP that the operations targeted Iran’s largest gas processing infrastructure in Bushehr province. With the bombings, Israel seeks to interrupt another important flow of resources to the Islamic Revolutionary Guard Corps.

The Iranian regime reported on Wednesday that it had managed to contain the fires caused by Israeli attacks in several areas of the gas complex and the situation is now “under control”. Speaking to Tasnim news agency, the governor of Asaluyeh said firefighters and rescue teams managed to contain the flames “as quickly as possible” and “the situation in the area is now completely under control”, with no reports of casualties.

Authorities declined to comment on whether recent military operations had led to the suspension of gas production or supply from this field, which, together with the adjacent North Field (which extends into Qatar), is the world’s largest natural gas condensate field, covering an area of ​​9,700 square kilometers.

In a separate statement, the Revolutionary Guards-affiliated Fars news agency said the explosions hit storage tanks and operational areas in several phases of the refinery.

In response, the Iranian regime promised to intensify attacks on strategic energy-related targets in neighboring countries.

Oil and natural gas prices soar after new Israeli action

New Israeli attacks and threats of retaliation from Iran caused oil and natural gas prices to soar again this Wednesday.

The price of Brent oil rose more than 5% at around 12:20 p.m., reaching close to US$109 a barrel. European natural gas prices soared by more than 7%.

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