Iran-Israel Conflict: Gas Fields Hit, Energy Prices Rise – Live Updates

QatarEnergy reported “extensive damage” to its Ras Laffan Industrial City facility following a barrage of missile attacks launched by Iran on Wednesday, escalating tensions in the Gulf region. The attacks came in direct response to an Israeli strike on Iran’s South Pars gas field, a key component of the world’s largest natural gas deposit, shared with Qatar.

Iranian state media confirmed the retaliatory strikes, vowing further attacks on oil and gas targets throughout the Gulf, including Saudi Arabia and the United Arab Emirates. Saudi Arabia’s defense forces reported intercepting four ballistic missiles aimed at Riyadh and thwarting a drone attack on a gas facility in the eastern part of the country.

The Israeli government has not officially acknowledged responsibility for the initial strike on South Pars, but U.S. President Donald Trump stated that the United States “knew nothing” about the operation, characterizing it as a unilateral action by Israel “violently lashed out” in response to ongoing regional conflicts. Trump further threatened to “blow up” Iran’s major gas field if Qatar were attacked again, a statement that contributed to a surge in oil prices, reaching nearly $110 a barrel.

The attacks on Qatar’s energy infrastructure have raised concerns about global energy supplies. Ras Laffan Industrial City houses the world’s largest liquefied natural gas (LNG) processing facility. The extent of the damage and the duration of repairs remain unclear, potentially disrupting LNG exports.

The escalation follows a period of heightened conflict initiated by U.S. And Israeli strikes on Iran on February 28th. Iran has responded with attacks targeting Israel and U.S.-allied states in the Gulf. Israel is simultaneously engaged in conflict with Hezbollah in Lebanon, resulting in the displacement of over a million people.

Iranian President Masoud Pezeshkian warned of “consequences beyond control” following the Israeli strike, suggesting a potential broadening of the conflict. Images released by Iranian media showed smoke rising from at least two impact sites within the South Pars field.

As of Thursday, March 19th, the situation remains volatile, with no immediate diplomatic efforts announced to de-escalate the crisis. The United States has not issued a formal statement beyond Trump’s remarks regarding a potential response to further attacks on Qatar. QatarEnergy has not yet provided a timeline for restoring full operational capacity at Ras Laffan.

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