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Energy Security · Geopolitics · Iran · Oil Prices
Iran launched ballistic missile attacks on Qatar's Ras Laffan Industrial City, the world's largest liquefied natural gas facility, and other Gulf energy sites in retaliation for alleged Israeli strikes on its own oil fields, causing Brent crude oil prices to surge over five percent to $114 a barrel.
The strike on Ras Laffan, where QatarEnergy's LNG processing occurs, caused extensive damage and fires, though QatarEnergy reported no casualties. QatarEnergy had already halted production at Ras Laffan due to prior Iranian attacks.
Saudi Arabia also intercepted Iranian missiles and drone attacks on its facilities. Iran issued evacuation notices for major energy complexes in Saudi Arabia (Samref Refinery, Jubail Petrochemical Complex), UAE (Al Hosn Gas Field), and Qatar (Mesaieed Petrochemical Complex, Mesaieed Holding Company, Ras Laffan Refinery), declaring them legitimate targets.
These actions followed alleged Israeli bombings of Iran's South Pars and Asaluyeh energy facilities, which Iran and Qatar blamed on Israel. The US and Israel previously avoided targeting Iranian energy infrastructure due to fears of retaliation and market shock.
The conflict also saw the deaths of high-profile Iranian officials, including intelligence minister Esmail Khatib, national security chief Ali Larijani, and Basij commander Gholamreza Soleimani, prompting Iranian missile retaliation on Tel Aviv using cluster warheads, killing two people.
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South Pars is the heart and lungs of an Iranian economy that relies heavily on natural gas to keep powering its homes, factories, cars and even its water pumps.
