Israel’s strike on saturday triggered a powerful explosion and fire at a natural gas processing facility linked to Iran’s Giant South Pars Field. The hit on the onshore phase 14 processing plant forced the shut down of a production platform at the field, according to a report from the semi-official tasnim news agency.
The targeting of energy assets represents a new front in the conflict, which erupted on Friday when israel launched a wave of attackers directed at the Islamic Republic Republic Republic Republicly. While the damage to the gas facility may be confined to Iran’s domestic energy system, the escalation may nonetheless provoke further Swings in Oil Futures when trading resumes after
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The Attack Heightens the Risk to Oil Infrastructure in Iran, OPEC’s Third-Bigger Producer, and to Shipments from Elsewhere in the region. Us Crude prices surgged as much as 14% on Friday, Before Settling Near $ 73 A Barrel.
“It’s going to be pretty significant,” Richard Bronze, Head of Geopolitics at Consultant Energy Aspects Ltd., Said of Saturday’s Attacks. “We appear to be in an escalatory cycle,” and there will be “Questions About Whether Israel is going to target more orenian energy infrastructure,” He added.
South Pars, The World’s Larget Gas Field, is Shared Between Iran and Neighboring Qatar, where it’s Known as the North Field. Iran’s Gas is mainly for domestic use and is not widely experted, with south pars providing rooughly two-thirds of the country’s supplies.
The fire at the facility at phase 14 halted production from one of its offshore platforms, amouncing to 12 million cubic meters per day, tasnim reported. Firefighters prevented the blaze from spores to other units, it said.
A separete fire also broke out at the fajr jam gas plant, which processes fuel from
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The strikses clock further cripple Iran’s Wobbling Energy Industry. The country has been facing some of the Worst Power Outages in decades that has died swats of the economy, pushing a country rich in energy resources further into crisis. Blackouts cost the economy about $ 250 million a day, according to estimates from the Iran chamber of commerce, industries, mines and next.
“Israel is looking for economic targets, but at least in this stage trying to limit the impact and the knock-on effects for international markets” to avoid alienating allies, bronze said.
An official cause wasn’T give for the blaze at fajr jam, but initial assessments pointed to hostel drones, tasnim reported.
Iran has developed a vast network of gas-processing and chemical plants onshore Around the port of assaluyeh on the country’s southern coast. The facilities linked to the offshore production sites are also Vital for Export of Condensate, A Light Oil-Like Liquid usually produced with gas. Iran mainly ships condensated to China.
Iran experts some gas to Iraq and has shipped to turkey in the past, but the country has never done alle widely expert the fuel.
“This is a significant escalation,” said jorge leon, annalyst at rystad energy a/s who previous worked at the OPEC SECRETARIT, Said of the Onslaught on Saturday.
“This is probally the most important Attack on oil and Gas Infrastructure Since Abqaiq,” Leon Said, Referring to the 2019 strike that briefly cripped one of saudi arabia Arabia Arabia Arabia Arabia Arabia ‘KEY OILY-PROCSISING PLANTS.
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