Israel attacks Iran's South Pars gas field which holds world's largest gas reserve - why does it matter?
On Saturday night, Israel struck several of Iran's key oil and gas sites, including South Pars, the world's largest gas field. This is the first time Israel has hit Iran's energy infrastructure, even though the two countries have been enemies for decades, as per reports.
Iran's Ministry of Petroleum said Israel attacked a big fuel depot and an oil refinery in Tehran, causing fires. The
South Pars gas field
, which Iran shares with Qatar, was damaged by Israeli strikes, leading to a partial shutdown, as per the report by Reuters.
The South Pars field produces about two-thirds of Iran's gas, which is used inside the country. According to a Reuters report, fire broke out at Phase 14 of the South Pars field, stopping production of 12 million cubic metres of gas per day. Israeli attacks also targeted another one of Iran's major oil storages, the Fajr-e- Jam Gas refinery, after a missile strike sparked a fire at the facility, Al Jazeera reported.
Why these sites matter?
From jet fuel for Iran's fleet to petrol and diesel for the capital Tehran, Shahran oil's 11 tanks holding 260 million litres of fuel are a major oil source for northern Tehran, located in Shahr-e Rey, and can refine 225,000 barrels of oil per day. It is crucial for fuel supply in Tehran, Iran's biggest city.
The South Pars gas field contains around 1,260 trillion cubic feet of gas, which makes up almost 20% of the world's known gas reserves. Damage to Fajr-e Jam Gas Refinery may hurt Iran's power and fuel supply, especially in southern and central areas. Power cuts already cost Iran around $250 million per day, as mentioned in the report by Al Jazeera.
Live Events
The start
This round of violence started on Friday, when Israel killed Iranian military officials and nuclear scientists in strikes. Iran responded by launching ballistic missiles and drones at cities in Israel.
Iranian news agencies claimed that the Israeli assault claimed 80 lives, including 20 children, while injuring as many as 800. Israel also claimed to lose 10 lives, along with having 180 injured as a result of Iranian retaliation.
Impact
Oil prices jumped 9% on Friday after the first Israeli attacks, even though energy sites were not hit then. Prices are expected to rise even more now that South Pars and other energy facilities were hit, as per the analysts reported by Al Jazeera.
The
Strait of Hormuz
is used for 20% of the world's oil, which Iran is considering closing. This would greatly affect global oil prices. The Strait of Hormuz separates Iran from Oman and UAE and is called the 'world's most important oil chokepoint' by the US Energy Information Administration, as per reports.
Iran can't export its gas due to international sanctions, so it uses all of it locally. Meanwhile, Qatar, which shares the South Pars field, exports large amounts of gas through companies like Exxon and Shell to Europe and Asia, according to the report by Reuters.
The situation is still tense and dangerous, and both countries are threatening more attacks.
FAQs
Q1. Why did Israel attack Iran's gas field?
Israel attacked because Iran first hit Israeli cities.
Q2. Why is the South Pars gas field important?
It has a huge part of the world's gas and gives most of Iran's gas supply.
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