Iran Attacks Qatar’s Largest Gas Projects

Following Israel’s attack on Iran’s largest South Pars Gas Field, Iran retaliated by targeting Ras Laffan, Qatar’s largest Liquefied Natural Gas project. Production at this site has now been halted. The war has turned into an ‘Oil War’ after 20 days.

After a few days of war, fuel transport was disrupted due to blockades in the Strait of Hormuz. In the last 24 hours, Iran and Israel have begun targeting projects related to fossil fuel energy production, which is likely to create an energy crisis at the global level. While that was of temporary concern, the attack on the Ras Laffan project is a major blow because even if the conflict ends, it will take a long time for production to return to normal. Estimates suggest that India could be severely affected. Notably, Iran’s South Pars gas project is also important for India.

India imports more than 88% of its crude oil, and it gets 50% of its gas imports from other countries. The targeting of the Qatari gas project could cause India to reduce its gas consumption. Currently, India’s daily natural gas consumption is 189 Million Metric Standard Cubic Metres Per Day. Out of this, 97.5 is produced domestically. 

Following the attack on South Pars, Donald Trump strategically distanced the U.S. from the incident, claiming the attack was entirely Israel’s decision.