The Middle East energy sector is under siege as key facilities across the region face repeated drone and missile attacks, triggering fears of a global energy crisis. The latest target is Qatar’s Ras Laffan, the world’s largest liquefied natural gas (LNG) hub, which has suffered extensive damage from Iranian strikes.
According to QatarEnergy, multiple rounds of attacks have caused sizeable fires and forced a halt in LNG production. The Ras Laffan Industrial City, which shares the North Field gas reservoir with Iran, holds nearly 10% of the world’s natural gas reserves. The suspension of operations has led to a sharp spike in global energy prices.
Iran’s own South Pars field, which connects to Qatar’s North Field, was also hit, disrupting around 70% of Iran’s domestic gas supply. The strikes have drawn condemnation from Gulf neighbors, including the UAE and Qatar, who are grappling with repeated assaults on their energy infrastructure.
Other critical sites have also come under fire. Kharg Island, responsible for nearly 90% of Iran’s oil exports, was struck by US forces, though officials claim operations continue. In Abu Dhabi, the Ruwais refinery, one of the world’s largest, was shut down as a precaution after a drone attack. Meanwhile, Saudi Arabia’s Ras Tanura refinery, with a capacity of 550,000 barrels per day, resumed operations after a temporary shutdown due to Iranian strikes.
The cumulative impact has been severe. Gulf oil output has plunged from 30 million barrels per day to just 20 million, excluding Oman. The president of Aramco warned of catastrophic consequences for global oil markets. On Thursday, Brent crude surged over 5%, peaking above $112 per barrel.
As the war escalates, the vulnerability of the region’s energy infrastructure is becoming increasingly evident, threatening not just local economies but the global energy supply chain.
